June 15, 2022
On June 15 (Wed.), Mr. Hagiuda Koichi, Minister of Economy, Trade and Industry (METI), held a video conference with H.E. Mr. Suhail Mohamed Al Mazrouei, Minister of Energy and Infrastructure of the United Arab Emirates (UAE), to encourage him to work toward stability in the international crude oil market. The two ministers also discussed stronger bilateral cooperation in the clean energy field, including on hydrogen, fuel ammonia, and CCUS.
During the meeting, Minister Hagiuda expressed his gratitude for the stable supply of crude oil to Japan, and in light of Russia's invasion of Ukraine and other factors keeping crude oil prices high, called for cooperation toward stabilizing the international crude oil market by ensuring an ample supply—including through increased production—and investing in production capacity. The two ministers welcomed the progress on the ongoing hydrogen project under the Memorandum of Cooperation on Hydrogen signed by their governments last April. The two ministers discussed building a stronger relationship between their two countries in the clean energy field, and agreed to work closely toward that while taking advantage of opportunities such as the fact that this year marks the 50th anniversary of diplomatic relations being established between their countries.