Japan Endorses Energy Policy to Step Up Oil Diplomacy

Japan’s Cabinet today approved a revised energy policy that highlights stronger ties with nations producing oil, natural gas and uranium, and the development of next-generation nuclear technology, the government said.

“Moving ahead with nuclear power development, concerted efforts to secure stable supply of oil and energy-saving are the pillars of the revised policy,” Trade Minister Akira Amari told reporters after the Cabinet approved the policy today.
Prime Minister Shinzo Abe’s government is stepping up efforts to tackle the rising risks of tightening oil and gas supplies amid growing demand from China and India. Japan, which is increasingly reliant on nuclear energy, is seeking reciprocal relations with countries that produce the atomic fuel to strengthen energy security.

“Japan has yet to achieve and set out decisive measures to resolve the vulnerability of our energy security, given that it imports almost all its energy needs and that 90 percent of its oil requirements comes from the Middle East,” the government said in the revised energy policy prepared by the trade ministry.

The policy contains other measures, including promoting energy saving, such as the use of biomass, fuel cells, ethanol- blended gasoline, and renewable energy like sunlight.

Bloomberg