Japan seeks new oil sources amid Middle East tensions

Japanese Prime Minister Sanae Takaichi said the government is actively exploring new ways to secure oil supplies and stabilise domestic gasoline prices, TASS reports.

The move comes in response to the escalating Middle East crisis and the closure of the Strait of Hormuz to shipping.

Takaichi noted that authorities are closely monitoring developments, but did not specify potential supplier countries. Currently, over 90% of Japan’s imported oil comes from the region, with a significant portion passing through the Strait of Hormuz. About 10% of Japan’s LNG imports originate from the Middle East.

Japan has oil reserves sufficient for 254 days and LNG reserves for approximately three weeks. From the Sakhalin-2 project, the country receives around 9–10% of its liquefied natural gas, while imports of Russian oil have been largely halted, except for small amounts needed for gas deliveries.