Japan calls for stronger oil cooperation and stockpiling in Asia

Japan: Japan is a leading Asian economy and major oil importer heavily dependent on supplies from the Middle East. Its government has prioritized energy resilience through initiatives like AZEC and POWERR Asia amid ongoing regional supply risks. Trade Minister Ryosei Akazawa recently advocated for expanded cooperation on stockpiling and infrastructure at ministerial meetings in Manila. Ryosei Akazawa: Ryosei Akazawa is Japan's Minister of Economy, Trade and Industry. He has actively promoted energy security measures, including calls for joint oil stockpiling frameworks across Asia in response to Middle East transit vulnerabilities. Akazawa co-chaired recent AZEC discussions emphasizing cooperation between producers and consumers. Geopolitics: Ongoing Middle East conflict involving proxies has prompted renewed focus on diversifying supply routes and emergency stockpiling mechanisms. Energy Security: Heightened tensions in the Middle East, including attacks on shipping routes, have underscored Asia's reliance on stable oil supplies from the region. Regional Cooperation: Japan is advancing joint work programs under AZEC to build strategic petroleum reserves and infrastructure in partner Asian nations.