- English
Event: Climate Security Challenges in the Asia-Pacific: Securing Energy, Trade and Transition
Date: 19 March 2025
Date: 19 March 2025
- Japan, as an island nation with limited natural resources, has an energy self-sufficiency rate of only 13%, ranking 37th out of 38 OECD countries.
- Since over 97% of fossil fuels are imported, domestic energy prices are significantly influenced by international conditions and the exchange rate of the Japanese yen.
- The Ukrainian war and the depreciation of the yen have caused the price of imported fossil fuels to soar.
- Japan shares a border with Russia, but its dependence on Russia for oil, coal, and LNG is less than 10% for each.
- The total value of Japan's imports of oil, coal, and natural gas is 30 trillion yen per year, which is equivalent to about 40% of the government's tax revenue of 70 trillion yen.
- To achieve the Paris Agreement and carbon neutrality by 2050, the government's decarbonization policy aims to switch from fossil fuels to hydrogen.
- The government's hydrogen strategy aims to supply 20 million tonnes of hydrogen domestically by 2050, with the majority of this expected to be imported from overseas.
- The countries that are expected to export hydrogen to Japan are thought to be Australia, the United States, and the Middle East.
- The Ministry of Economy, Trade and Industry has identified 25 target countries that are important for Japan's energy security, and has divided these 25 countries into five categories.
- Japan's resource diplomacy is expected to maintain and develop diplomatic relations not only with traditional fossil fuel exporting countries, but also with countries that export minerals such as rare earths and new fuels such as hydrogen and ammonia.
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- English
Event: Climate Security Challenges in the Asia-Pacific: Securing Energy, Trade and Transition
Date: 19 March 2025
Date: 19 March 2025
