Summit on the Future of Energy Security Held

1. Summit on the Future of Energy Security

The Summit on the Future of Energy Security was co-hosted by the IEA and the U.K. government. Amid the increasingly uncertain future energy landscape, representatives from IEA member countries, other invited countries, international organizations, and energy companies, among others, attended the Summit, which included comprehensive discussions on energy security challenges such as securing stable oil and gas supplies and increasing the resilience of supply chains for critical minerals and clean energy technologies.

Representing METI, Tsuruda Masanori, Deputy Commissioner for International Affairs, Agency for Natural Resources and Energy, attended the Summit, conveying the need for countries to cooperate on shared issues while working toward ensuring energy security through various pathways depending on each country’s circumstance. He also stressed the importance of utilizing various technologies and energy sources and diversifying procurement sources to simultaneously ensure energy security, address climate change, and achieve economic growth, and shared Japan’s high expectations for the IEA’s new roles in the fields of gas and electricity security.

• CHAIRS’ SUMMARY

2. Side event on natural gas and liquefied natural gas (LNG): Enhancing Gas Security through Gas Reserve Mechanisms and Flexibility Options

On the day preceding the Summit on the Future of Energy Security, the IEA and METI co-hosted a side event on natural gas and LNG titled Enhancing Gas Security through Gas Reserve Mechanisms and Flexibility Options. Representatives from IEA member countries, other invited countries, energy companies, and others reviewed past experiences of gas crises, confirmed the roles of natural gas and LNG, and discussed strengthening the roles of the IEA in the gas security field, the gas reserve mechanism that prepares for future uncertainties, and the outlook of gas demand and supply.

Mr. Tsuruda conveyed the need for the IEA to strengthen its research and analysis on the gas reserve mechanism and gas demand/supply outlook, while expressing his expectation that countries would introduce gas reserve mechanisms that are tailored to their respective characteristics.

Divisions in Charge

• 1. Summit on the Future of Energy Security

  International Affairs Division, Commissioner’s Secretariat, Agency for Natural Resources and Energy

• 2. Side event on natural gas and LNG

  Energy Resources Development Division, Natural Resources and Fuel Department, Agency for Natural Resources and Energy