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- Minister Hagiuda Holds Video Conference with H.E. Dr. Mohammad Abdullatif Al-Faris, Kuwait’s Deputy Prime Minister and Minister of Oil and Minister of State for Cabinet Affairs
Minister Hagiuda Holds Video Conference with H.E. Dr. Mohammad Abdullatif Al-Faris, Kuwait’s Deputy Prime Minister and Minister of Oil and Minister of State for Cabinet Affairs
March 31, 2022
On March 31 (Wed.), Mr. Hagiuda Koichi, Minister of Economy, Trade and Industry (METI), held a video conference with H.E. Dr. Mohammad Abdulatif Al-Faris (Kuwait's Deputy Prime Minister and Minister of Oil and Minister of State for Cabinet Affairs) to urge him to work toward stability in the international crude oil market and confirm that they will strengthen their cooperation in the clean energy field. After the meeting, they also attended the signing ceremony for a Memorandum of Cooperation (MOC) between Nippon Export and Investment Insurance (NEXI) and the Kuwait Petroleum Corporation (KPC).
Regarding energy relations between both countries, the two leaders confirmed the importance of strengthening their cooperation in the field of clean energy such as hydrogen and ammonia, in addition to the existing oil and natural gas sector.
After the meeting, they also attended the signing ceremony for an MOC between NEXI and KPC that included goals such as expanding cooperation on energy and moving decarbonization forward. This MOC and future financing for the KPC are expected to increase Kuwait's crude oil production capacity and cooperation on the part of both countries in the decarbonization field.
At the meeting

At the signing ceremony
Note: The MOC between NEXI and KPC
- includes (1) expanding business opportunities for Japanese companies in Kuwait and advancing cooperation between KPC and NEXI to accelerate decarbonization in the energy field, (2) discussions on accelerating energy-related projects and exports of Japanese products with the participation of Japanese companies, and (3) consideration for financing KPC with NEXI insurance coverage.
Division in Charge
Petroleum and Natural Gas Division, Natural Resources and Fuel Department, Agency for Natural Resources and Energy