Japan, OPEC to establish high-level dialogue

Japan and the Organization of the Petroleum Exporting Countries (OPEC) have agreed to establish a dialogue between senior officials, Nikkei reported on June 14, as the world’s fourth largest oil importer looks to beef up energy security.

The OPEC logo pictured ahead of an informal meeting between members of the Organization of the Petroleum Exporting Countries (OPEC) in Algiers, Algeria, September 28, 2016. REUTERS/Ramzi Boudina

Japan’s parliamentary vice minister for foreign affairs Kei Takagi met with OPEC Secretary-General Haitham al-Ghais at the oil cartel’s headquarters in Vienna on Tuesday, where they discussed the global energy supply and demand outlook and agreed to create a permanent line of communications, Nikkei said.

Energy-poor Japan is actively adding renewable resources to its consumption mix aiming to be carbon neutral by 2050, but it remains highly dependent on oil and liquefied natural gas (LNG) imports. OPEC producers are Japan’s biggest oil suppliers.

Japanese Prime Minister Fumio Kishida is considering visiting OPEC members Saudi Arabia and the United Arab Emirates in July and may also visit Qatar, Jiji news agency reported separately on Tuesday, citing sources.

According to Jiji’s sources, Kishida is expected to discuss ways to stabilize crude oil prices and to ensure stable supplies of LNG to Japan.