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    Japan, EU agree to ensure stable LNG supplies

Summary

Japan and the EU said they will take immediate action to accelerate the energy transition based on energy efficiency and the large-scale deployment of clean, safe and sustainable energies.

by: Shardul Sharma

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Complimentary, Natural Gas & LNG News, Asia/Oceania, Europe, Liquefied Natural Gas (LNG), Security of Supply, Energy Transition, Corporate, Import/Export

Japan, EU agree to ensure stable LNG supplies

Japan and the EU on May 12 agreed to help ensure each other’s security of supply of LNG. 

“In the light of sanctions on Russia, we will cooperate to keep global energy markets stable and help ensure each other’s security of supply, in particular for the supply of LNG,” Japan and the EU said in a joint statement following the summit meeting in Tokyo.

Japan and the EU said they will take immediate action to accelerate the energy transition based on energy efficiency and the large-scale deployment of clean, safe and sustainable energies.

“We will cooperate to reduce Europe's dependency on energy supplies from Russia and to ensure diversification of energy supply sources, and acknowledge the need for investments to achieve this,” the joint statement said.

Japan in February this year said it would divert some surplus LNG cargo to Europe after appeals from the US and the EU. Meanwhile, the EU has pledged to phase out all Russian fossil fuel imports by 2027.