Japan to Draw Up Energy-Related Package by End-Aug.

Tokyo, June 27 (Jiji Press)–Japanese Prime Minister Sanae Takaichi has instructed industry minister Ryosei Akazawa to draw up a comprehensive package of measures to strengthen the supply-demand structure for energy by the end of August. The instructions were made at Friday’s ministerial meeting on the Middle East situation. The package will be aimed at coping with risks related to energy procurement that became apparent amid the turmoil in the region. Takaichi said that global crude oil prices have been calming down since the United States and Iran signed a memorandum to end their conflict. “This is a good opportunity to strengthen the energy supply-demand structure further international cooperation.” Takaichi aims to reflect the plan in the government’s fiscal 2027 budget. The move also comes at a time when electricity demand is increasing on the back of growing use of artificial intelligence. Elsewhere in the meeting, Takaichi explained measures to resolve supply disruptions for oil-related products and their effects. Concerns about supply constrains have receded thanks to the launch of a system in which bus operators and auto repair shops directly buy lubricants from suppliers, she said. END [Copyright The Jiji Press, Ltd.]