Japan’s industry minister Ryosei Akazawa has asked Australia, as Japan’s main supplier of liquefied natural gas (LNG), to boost output amid the US-Israeli war on Iran.
According to Reuters, Japan relies on the Middle East for around 11% of its LNG imports, with 6% shipped via the Strait of Hormuz, which has effectively closed due to the US-Israeli war on Iran.
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The Strait of Hormuz is a vital maritime shipping passage connecting the Persian Gulf with the Gulf of Oman and the Arabian Sea. It serves as the primary route for over 20% of global oil and liquefied natural gas (LNG) shipments, making it a critical hub for global energy security and shipping.
The Strait of Hormuz is experiencing a near-total shutdown of shipping traffic due to the ongoing war between Iran and the US-Israeli coalition, causing global oil prices to surge.
Japan also sources approximately 95% of its crude oil from the Middle East.
Australia currently supplies approximately 40% of Japan’s LNG imports, however, Japan’s industry minister Ryosei Akazawa is seeking
“For this unprecedented situation, the affordable and stable LNG supply from Australia is the lifeline of energy security in Japan and this region,” Akazawa told Australian Resources Minister Madeleine King during talks at the Indo-Pacific Energy Security Ministerial and Business Forum in Tokyo.
“We would like to sincerely ask for your continued contribution to stable supply, including the possibility of increasing production as much as possible,” Akazawa said.
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King told Akazawa the Scarborough gas field in Western Australia and Barossa gas field in the Northern Territory were expected to bolster Australia’s LNG exports in the coming months.
