Japan intends to reduce dependence on energy supplies from Russia

Japan's Minister of Economy, Trade and Industry Koichi Hagiuda said that the country is trying to reduce its dependence on Russian energy supplies, including liquefied natural gas (LNG).

«We aim to reduce our dependence on Russian energy by securing alternative supply sources outside Russia by LNG investments among other steps,» the minister said.

Hagiuda also stressed that Japan plans to work on the development of renewable energy sources and nuclear energy so that its policy meets the requirements of the joint statement of the G7 countries on the gradual reduction of energy dependence on Russia.

Earlier, the heads of the Big Seven countries announced their desire to reduce their dependence on Russian energy in connection with the situation around Ukraine. At the same time, all countries need time to ensure sustainable alternative supplies. 

According to the Ministry of Finance of Japan, the share of Russian LNG supplies in 2021 amounted to 9% of total Japanese imports (74.32 tons), the share of oil supplies was 4% (2.48 million barrels per day).