EXCLUSIVE: Japan Eyeing Energy Cooperation via AZEC

Tokyo, April 14 (Jiji Press)–The Japanese government is considering expanding international cooperation under the Tokyo-led Asia Zero Emission Community framework, a decarbonization initiative involving Southeast Asian countries and others, to strengthen energy supply chain resilience, Jiji Press learned Tuesday. With concerns about oil procurement looming over many countries amid the deteriorating situation in the Middle East, the government hopes that the AZEC initiative can tackle short-term challenges such as diversifying procurement and stabilizing the supply of energy resources in addition to medium- to long-term goals such as achieving zero emissions. Tokyo is looking to expand cooperation through visits by Prime Minister Sanae Takaichi to Australia and Vietnam, being arranged for Japan’s Golden Week holiday period from late this month to early May. The AZEC framework was launched in 2022 at the initiative of then Prime Minister Fumio Kishida, and has 11 member countries including Japan, Australia and Southeast Asian countries. The de facto blockade of the Strait of Hormuz, a key oil shipping chokepoint, amid fighting between the U.S. and Israeli forces and Iran has underscored the energy security risks faced by Asian countries that rely heavily on Middle Eastern crude oil. Some countries with small oil reserves have begun curbing oil consumption through energy-saving measures. Tokyo has concluded that countries need to band together to tackle the pressing challenge. The plan is apparently also aimed at preventing China from expanding its influence at a time when Beijing is showing a proactive stance on energy cooperation in Southeast Asia. Japan considers the Association of Southeast Asian Nations a key partner in its supply chains, as some 10,000 Japanese firms are doing business in ASEAN member countries. Tokyo hopes to strengthen cooperation by enhancing energy resilience. END [Copyright The Jiji Press, Ltd.]