Boosting Ties: Japan Seeks Australia's Help in LNG Crisis
In the wake of Middle East crises impacting global LNG supplies, Japan's industry minister Ryosei Akazawa urged Australia, its top LNG supplier, to increase production. This comes as 20% of global LNG is offline due to US-Israeli actions. Japan relies on Australia for 40% of its LNG imports.
Japan's industry minister, Ryosei Akazawa, has called on Australia, the country's leading supplier of liquefied natural gas, to step up production amidst ongoing Middle East turmoil.
With 11% of its LNG imports coming from this region, and the Strait of Hormuz effectively closed, Japan faces disruptions that also affect 95% of its crude oil supplies. The US-Israeli conflict with Iran has halted more than 20% of global LNG production, causing significant energy supply disruptions, according to Qatari Energy Minister Saad al-Kaabi.
Meeting in Tokyo for the Indo-Pacific Energy Security Ministerial and Business Forum, Akazawa emphasized Australia's critical role in energy security, with Australia accounting for about 40% of Japan's LNG imports. Australian Resources Minister Madeleine King assured that the upcoming projects in Scarborough and Barossa fields will significantly boost output.
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