Another shipment of Russian oil has arrived in Japan as energy supplies from the Middle East face interruptions. The tanker Voyager docked at ENEOS’ terminal in Kiire, delivering oil from Sakhalin . This follows earlier shipments to Taiyo Oil and Idemitsu Kosan in early May .
Japan's Ministry of Economy, Trade and Industry asked for more oil supplies due to troubles in the Middle East,leading to the purchase from Russia. Even with a ban on Russian oil imports since 2022,Japanese firms have occasionally picked up small shipments from the Sakhalin-2 project, which also supplies liquefied natural gas . Both Taiyo Oil and Idemitsu Kosan pointed out that diversifying supply sources drove their decision,but they didn’t share specific volumes or contract details.
Koichi Hagiuda,deputy secretary general of the ruling Liberal Democratic Party (LDP),said Japan recently secured about 720,000 barrels of oil from Russia. Traditionally, Japan has relied on the Middle East for over 90% of its oil, most of which passes through the Strait of Hormuz . Given current geopolitical tensions, Tokyo is looking for alternative supply sources.
While Russia isn't officially recognized as potential supplier,Shunichi Kito, head of Petroleum Association of Japan and Idemitsu Kosan,mentioned it as a possible option. This marks shift in Japan's energy strategy as it deals with the complexities of global oil markets and ongoing supply challenges.
