As the chair of the G7 this year, Japan will hold the ministerial meeting in Sapporo on April 15-16, ahead of the G7 summit in Hiroshima on May 19-21, to promote what it calls realistic energy transition.
"We want to lead discussions on concrete paths and what should be done in cooperation," he said, noting that each country has its own economic and energy circumstances to consider. Japan and other countries recognise the importance of liquefied natural gas and natural gas as energy sources for the transition period, Nishimura said, adding that a certain amount of upstream investment and financing is necessary."I think we will need gas for about 10 to 15 years... but we will need to figure out what will happen after that," he said, adding he wanted a thorough discussion on financing of the upstream investment.
One-time major Russian gas buyers in Europe have sharply cut purchases since last year but energy-poor Japan is still buying Russian gas in the form of LNG from its Pacific Sakhalin-2 project, which accounts for about 10% of its total imports.
Was this decision made before or after you got your exemption to the Russian oil embargo and bought Russian oil?
That’s because Japan has already been sold out
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