Japan seeks to reduce dependence on Russian energy resources

HONG KONG. March 15 (Interfax) - Japan is trying to reduce its dependence on imports of Russian energy resources, including liquefied natural gas (LNG), the country's economy, trade and industry minister, Koichi Hagiuda told reporters on Tuesday.

Japan is seeking to secure alternative sources of supply outside of Russia, including by investing in LNG, he said.

Japan also plans to work on renewable energy sources and develop nuclear energy so that its policy complies with the requirements of the joint statement of G7 countries to gradually reducing energy dependence on Russia, the minister said.

The G7 said earlier that they would seek to continue to reduce their dependence on Russian energy resources due to the situation in Ukraine while complying with guarantees to give countries of the world time to secure alternative and stable supplies.

In 2021, Russia accounted for 9% of Japan's total LNG imports in the amount of 84.32 million tonnes and 4% of its total crude oil imports in the amount of 2.48 million barrels per day, data from the Japanese Finance Ministry show.