New Delhi, August 12: Japan has successfully received its first shipment of crude oil from Canada amid escalating tensions in the Middle East. Prime Minister Sanae Takaichi hailed Canada as a vital partner, describing this achievement as a significant step towards enhanced energy cooperation between the two nations.
In a post on the social media platform ‘X’, Takaichi stated, “For the first time, a tanker carrying Canadian crude oil arrived in Japan following the deteriorating situation in the Middle East on Wednesday. Canada is a crucial partner for Japan in economic security, a sector I am personally keen to promote.”
Takaichi noted that during Canadian Prime Minister Mark Carney’s visit to Japan on March 6 this year, both countries agreed to elevate their relationship to a “comprehensive strategic partnership.” They also signed the “Japan-Canada Summit Joint Statement,” marking the first such summit document between the two nations.
Specifically addressing the issue of crude oil, Takaichi mentioned that their discussions with Prime Minister Carney included the purchase of Canadian crude oil as a concrete example of the Japan-Canada strategic partnership.
She emphasized that this oil supply represents a major success in energy security collaboration between Japan and Canada. Previously, both countries have also cooperated in the fields of LNG (liquefied natural gas) and small modular reactors (SMRs). This development is particularly significant for ensuring Japan’s energy security.
Takaichi remarked, “Canada, a reliable partner that shares the responsibility of promoting a ‘free and open Indo-Pacific,’ will continue to work alongside us.”
Regarding alternative crude oil supplies, Takaichi stated that both the government and private sector are making concerted efforts to develop supply arrangements that do not rely on the Strait of Hormuz. For August, they estimate that they can achieve nearly 100% of last year’s average monthly supply without drawing from oil reserves.
She added that Japan has already received crude oil from regions including the Middle East, the United States, Central and South America, the Asia-Pacific, Central Asia, and Africa. With this new shipment, Canada has now joined this list of suppliers.
Takaichi concluded, “The government will continue to promote alternative crude oil supplies. Our goal is to meet Japan’s total needs while minimizing the necessity to draw from reserves. We aim to ensure that the daily lives, livelihoods, and economic activities of the Japanese people are not adversely affected.”
Leave a Comment