Agreement Between Japan and OPEC to Launch Permanent Communication Line

The Nikkei reported on Wednesday that Japan and the Organization of the Petroleum Exporting Countries (OPEC) have agreed to establish dialogue among senior officials as Japan, the world's fourth-largest oil importer, seeks to enhance its energy security. Japanese official Ki Takagi met with OPEC Secretary General Haitham Al Ghais at the organization's headquarters in Vienna on Tuesday, where they discussed global energy supplies and demand forecasts, agreeing to launch a permanent communication line. Separately, the Jiji news agency reported on Tuesday that Japanese Prime Minister Fumio Kishida is considering visiting Saudi Arabia and the UAE, both OPEC members, in July, and may also visit Qatar. According to Jiji sources, Kishida is expected to discuss ways to stabilize crude oil prices and ensure a steady supply of liquefied natural gas to Japan. Japan, which has limited energy resources, is working to add renewable sources to its consumption mix with the goal of achieving carbon neutrality by 2050, but it still heavily relies on imports of oil and liquefied natural gas. OPEC producers are Japan's largest oil suppliers.