Wednesday , 12 June 2024
Home Global Economy Liquefied natural gas from Japan: EU wants to reduce dependence on Russia
Global Economy

Liquefied natural gas from Japan: EU wants to reduce dependence on Russia

Japan has initiated liquefied natural gas supplies to the European Union and the United States. In view of the tense relationship with Russia, the West wants to reduce its dependence on Moscow in terms of energy policy. Both the EU and the US have asked Japan for the supplies, according to Trade Minister Koichi Hagiuda.

Ships are scheduled to arrive in Europe in March

“Japan has enough LNG to meet domestic needs. But it’s not a ton. As the world situation develops, for example through Ukraine, Japan must unite with the G7 countries, especially those who share the same values ​​as Japan,” Hagiuda said.

According to the Japanese trade minister, gas supplies are due to arrive in Europe by sea in March.

Borrell: “Energy supply is a key component of this crisis”

Around 40 percent of the natural gas burned in countries of the European Union comes from Russia. And almost a third of the oil used in the EU is also supplied by Russia – a big trump card for Moscow, agrees Josep Borrell, the European Union’s foreign policy chief:

“Energy is a key component of this crisis because Russia has no hesitation in using the large amounts of energy it supplies to Europe as leverage for geopolitical purposes,” Borrell said.

US President Joe Biden had announced that the Nord Stream 2 gas pipeline, which runs through the Baltic Sea from Russia to Germany, would come to an end if Russian troops crossed the border into Ukraine.

Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Related Articles

Global Economy

Spotlight on 2023: S&P 500 and the Significance of the 4400 Level

In our past exploration of the financial landscape of 2023, we delved...

Global Economy

AI and Data Analytics Drive Efficiency in Money Laundering Detection

BIS Innovation Hub Turns to Tech for Money Laundering Detection The BIS...

Global Economy

Russell 2000 Gains Momentum as Tech Stocks Outperform Value

Tech stocks have dominated the equity markets in recent months, surpassing value...

Global Economy

Crypto Exchange Bybit Announces Exit from Canadian Market Amid Regulatory Changes

Regulatory Shifts Prompt Bybit's Strategic Withdrawal from Canadian Crypto Market