Japan joins the energy race

Japan’s energized diplomatic drive in Central Asia comes at a time when Tokyo is implementing its new energy strategy aimed at ensuring stable oil, gas and other resource supplies in the long term to feed the world’s second-largest economy.

The Ministry of Economy, Trade and Industry released its new national energy strategy at the end of May. It calls for, among other things, strengthening ties with resource-rich countries, promoting nuclear energy, and securing energy resources abroad through the fostering of more powerful energy companies. The new strategy specifically calls for increasing the ratio of “Hinomaru oil”, or oil developed and imported through domestic producers, from the current 15% to 40% by 2030.
Asia Times