Korjobs.com

Sign In

The Japanese government has signed an energy agreement with Malaysia’s state oil and gas firm Petronas that includes supplying liquefied natural gas (LNG) tanks in the event of an emergency.

Japan’s Ministry of Economy, Trade and Industry signed a memorandum of cooperation (MoC) with Petronas at the LNG Producer-Consumer Conference in Tokyo on Thursday.

The memorandum includes consideration of joint upstream investment, technical cooperation on cutting climate-warming methane emissions, mutual assistance in fuel supply, and the emergency use of LNG tanks.

Both sides agreed to discuss ways to supply fuel to whichever side has a shortage, given that the countries’ peak consumption periods differ. Malaysia’s peak demand is in summer, while Japan’s is in winter.

Petronas also signed an MoC with the Japanese government on Monday to enhance cooperation in developing energy sources and technologies to achieve carbon neutrality by 2050. In addition, it signed a memorandum of understanding with the Japan Bank for International Cooperation, which will help it expand cooperation with Japanese companies on international projects, according to its statement.

“Japan has been our trusted and valued partner since the days of our first LNG exports in the early 1980s, and this partnership has expanded to include new areas of collaboration in the clean energy space,” Petronas President Datuk Tengku Muhammad Taufik said.

Reducing LNG Reliance on Russia

Japan has been considering measures to reduce reliance on Russia—one of its biggest LNG suppliers in 2021—and to avoid a power crunch during the winter season when heating demand is expected to surge.

Earlier in July, Prime Minister Fumio Kishida urged the Japanese trade industry minister to have nine nuclear reactors operational by the upcoming winter season as he warned of potential power shortages.

“There are concerns that [power] supply and demand will be tight again this winter. We must prevent such a situation at all costs,” Kishida said at a press conference on July 14.

The nine nuclear reactors are expected to cover about 10 percent of the total energy consumption. Kishida also ordered the government to secure 10 thermal power generation units to help stabilize Japan’s power supply.

Japan had only allowed 10 of the 33 operable nuclear reactors to restart after the 2011 Fukushima nuclear disaster. But rising energy prices and the threat of a power shortage during a heat wave have pushed the government to reactivate some nuclear reactors.

Energy Minister Yasutoshi Nishimura said last month that he will push for the revival of the remaining nuclear plants that have been taken offline since the 2011 disaster to ensure a stable electric power supply in the country.

No. Subject Author Date Views
47 fashiondesigner fashion 2023.02.01 133
46 Top 20 Clothing Brands of Pakistan Clothing 2023.02.01 125
45 Pakistanblog pakistanblog 2023.01.25 122
44 Best Winter Clothing Brands in Pakistan 2021 pakistan 2023.01.24 111
43 Start Your Own Shirt Business AnthonyAvard 2023.01.21 148
42 キッチン水栓組立コスト計算機 Ben 2022.12.16 108
41 At Vide, Hvordan Man Får en Fastkørt sort køkkenvask af ZaireBarnes 2022.11.14 112
40 QA Automation Engineer-Tesla admin 2022.11.12 103
39 Vehicle Readiness Inspector admin 2022.11.12 116
38 Senior Electronics Design Engineer – Tesla Energy admin 2022.11.12 103
37 Musk defends Twitter layoffs, says company losing over $4M per day admin 2022.11.05 126
36 The Communist Party and the Reality of the Juche Idea admin 2022.10.17 97
35 Current situation in Korea in October 2022 admin 2022.10.07 247
34 U.S., Japanese fighter jets carry out drills after North Korea missile launch file admin 2022.10.04 104
33 Google Discontinues Google Translate in Mainland China admin 2022.10.03 147
32 Taiwan Launches English Language TV Channel to Give It More International Punch admin 2022.10.03 114
31 Elon Musk Proposes Peace Plan for Ukraine-Russia Conflict admin 2022.10.03 108
» Japan Signs up With Malaysia’s Petronas to Secure LNG Supplies admin 2022.09.30 131
29 70 Percent District Council Seats Are Vacant After Mass Arrests of Pro-Democracy Councilors; HK Plan to Add More Pro-CCP Members admin 2022.09.30 112
28 Moon Jae-in [6] file admin 2022.09.28 5138