As tensions rise amidst a possible Russian invasion of Ukraine and fears grow over a major gas supply disruption, Japan has indicated that it will help provide ‘sufficient’ liquefied natural gas (LNG) supplies to Europe.
Having held a meeting in Tokyo on 9th February, Koichi Hagiuda, Minister for Economy, Trade and Industry (METI) stated that multiple gas shipments are already being diverted to Europe by Japanese firms and are scheduled to arrive later this month.
Although a conflict in Ukraine is unlikely to see Russia cease all gas exports to Europe, the EU’s heavy dependence on Russian supplies could result in heavy shortages and increased prices.
As strategic partners, the EU and Japan claim a ‘united objective’ to protect a rules-based international order, open markets and secure supply chains.
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