Environment and Energy

Japan to Support Pipelines Bypassing Strait of Hormuz

Japan plans to support construction of pipelines bypassing the Strait of Hormuz following the US-Iran war, which exposed vulnerabilities in Middle Eastern oil supplies. The new energy strategy, to be finalized by year-end, includes diversifying procurement sources and supporting shipping costs. Japan previously relied on the Middle East for more than 90% of crude oil and will enhance JOGMEC's risk-financing capabilities to encourage participation in pipeline projects.