Japan’s Strategy for Securing Energy Resources

Abstract

Since the invasion of Ukraine, the process of securing resources for Japan’s energy procurement has changed significantly. The Oil and Natural Gas Division of the Agency for Natural Resources and Energy acknowledges the major changes are undergoing in the environment around natural gas. Energy security was undermined by the trend toward decarbonization even before the invasion of Ukraine; however, in light of the invasion, the need for energy security has become more important than ever before. As Japan hosts the G7 HIROSHIMA SUMMIT, it is facing a major turning point in terms of the agenda for energy policy. Thus, we regard the stable supply of energy, the encouragement of decarbonization and promotion of carbon neutrality are themes that must be inseparable for the future. The need to balance all three aspects of public policy is very clear considering economic growth. After an overview of the energy situation in the world and Japan, the global issues concerning liquefied natural gas, the Asia Energy Transition Initiative, and carbon dioxide capture and storage have been described.