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- FY2023 Independent Development Ratio of Oil and Natural Gas in Japan Released
FY2023 Independent Development Ratio of Oil and Natural Gas in Japan Released
September 3, 2024
Japan's independent development ratio of oil and natural gas in FY2023 was 37.2%, up by 3.8% from the previous year.
1. Independent development ratio
Japan's independent development ratio of oil and natural gas is defined as the share of the offtake amount of oil and natural gas under the control of Japanese enterprises (including domestic production) out of the total amount of imported and domestically-produced oil and natural gas.
For Japan, which is largely dependent on imports from abroad for its oil and natural gas, it is vital to secure a stable supply of resources and energy. To this end, since the formulation of the Sixth Strategic Energy Plan (a Cabinet Decision was made in October 2021), Japan has been supporting its enterprises to improve the current independent development ratio in the country for both oil and natural gas (including domestic production) to over 50% in FY2030 and 60% in FY2040.
2. Factor analysis
The FY2023 independent development ratio of oil and natural gas in Japan showed a 3.8%increase over the previous year.
This is likely because of a decrease in the imports of oil and natural gas and an increase in the offtake amount of oil and natural gas under the control of Japanese enterprises backed by the progress made in overseas natural gas development projects, in particular.
Changes in Japan's independent development ratios of oil and natural gas since FY2009
Fiscal year | Offtake amount of oil/natural gas under the control of Japanese enterprises, including domestic production (Million B/D) | Independent development ratio (%) |
---|---|---|
2009 | 124.1 | 23.1 |
2010 | 129.7 | 23.5 |
2011 | 129.6 | 22.6 |
2012 | 129.4 | 22.1 |
2013 | 136.4 | 23.3 |
2014 | 139.1 | 24.7 |
2015 | 152.9 | 27.2 |
2016 | 153.3 | 27.4 |
2017 | 145.2 | 26.6 |
2018 | 153.1 | 29.4 |
2019 | 174.6 | 34.7 |
2020 | 175.3 | 40.6 |
2021 | 175.3 | 40.1 |
2022 | 157.8 | 33.4 |
2023 | 162.5 | 37.2 |
* Offtake amount of natural gas is the crude oil equivalent.
Changes in Japan's independent development ratios of oil and natural gas since FY1973
Note: From FY1973 to FY2008, the independent development ratios were calculated based on oil amounts alone. Since FY2009, ANRE has been calculating the ratios based on the combined amount of oil and natural gas and releasing those results.
Division in Charge
Energy Resources Development Division, Natural Resources and Fuel Department, Agency for Natural Resources and Energy