Japan seeks to bridge the gap between oil giants and consumers

Japan has proposed strengthening cooperation between oil producers and consumers, increasing crude oil reserves and developing energy infrastructure across Asia. The aim is to improve the region’s resilience to potential disruptions in energy supplies.

TodayPress TV reports, citing Bloomberg.

Speaking at a ministerial meeting of the International Energy Forum (IEF), Japan’s Minister of Economy, Trade and Industry Ryosei Akazawa said energy security was becoming increasingly important amid rising tensions in the Middle East.

According to the minister, Japan is taking measures to reduce Asia’s vulnerability to potential energy supply disruptions caused by instability in the Middle East.

To this end, the POWERR Asia initiative, launched by Japan in April this year, envisages increasing oil reserves across the region, strengthening supply chains and improving preparedness for emergencies through cooperation with energy-producing countries.

Akazawa noted that Japan intends to act as a bridge between oil producers in the Middle East and Asian countries, strengthen interregional cooperation and contribute to the stability of global energy supplies.

Giymat Mahir