Press Conference by Minister Muto (Excerpt)

*Note: This is a provisional translation for reference purposes only.

9:17 to 9:28 a.m.
Tuesday, October 8, 2024
Press Conference Room, METI Main Building

Opening Remarks

None

Question-and-Answer Session

LNG Producer-Consumer Conference

Q: I would like to ask you two questions. This is the first one. On Sunday, an LNG Producer-Consumer Conference (LNG PCC) was held in Hiroshima. Taking this opportunity, the Governments of Japan and Italy agreed on LNG procurement in emergency situations. As the formulation of a new Strategic Energy Plan is now underway, I would like to ask you anew about the position of LNG that the Government of Japan has defined. Also, could you provide a comment on whether the government intends to expand partnerships with other resource-rich countries going forward, like this case?

A: At the LNG PCC held on the 6th, the energy authorities of the Governments of Japan and Italy confirmed comprehensive cooperation in the field of LNG. In addition, the Japan Organization for Metals and Energy Security (JOGMEC) and an energy company in Italy (Eni S.p.A.) have concluded a memorandum of cooperation (MOC) to accelerate discussions on the diversification of support for LNG procurement.

Under the MOC agreement, JOGMEC and Eni will accelerate the consideration of specific procurement approaches in preparation for a case where Japanese companies face difficulties in LNG procurement. I believe that this will contribute to the stable supply of LNG.

We will promote specific cooperation with other countries to strengthen partnerships, and through this effort, we will continue to strive to ensure the stable supply of LNG.

Regarding the point you mentioned, going forward, we will advance decarbonization as a long-term effort, while it must be recognized that securing and supplying fossil fuels is also an important matter as a short-term effort. In particular, I am aware that LNG emits relatively less carbon dioxide and is an important fuel for energy transition. In this context, the procurement of LNG at stable prices by concluding long-term contracts is significant for Japan, and from this viewpoint, we would like to continue to advance proactive resources diplomacy and provide support through JOGMEC and other organizations.

We will continue to thoroughly tackle efforts to ensure the stable supply of LNG as an energy resource that emits relatively less carbon dioxide, in order to strike a balance between decarbonization and a stable energy supply./p>

AZEC Leaders Meeting

Q: Thank you very much.
I would like to ask you another question. This week, the Asia Zero Emission Community (AZEC) will hold a Leaders Meeting, taking the opportunity of the ASEAN Summit Meeting. Prime Minister Ishiba has expressed his intention to attend. Could you offer your thoughts on the significance of this framework and whether the new administration as well considers that the importance of the framework will continue to increase?

A: Amid the trend of global decarbonization, it is indispensable for Southeast Asia, as home to global manufacturing bases, to take steps toward decarbonization in order to remain competitive. In addition, as the region mainly relies on thermal power generation for the majority of its electricity, it has great potential for advancing decarbonization in a realistic pathway while utilizing Japan’s technology. Japan, like Southeast Asian countries, has a large proportion of manufacturing in its economy, and I believe that we face common challenges in advancing decarbonization. We recognize that it is very important for Japan to work hand in hand with countries in Southeast Asia to promote decarbonization under the AZEC framework.

The second AZEC Leaders Meeting will be held this week based on this concept. I am scheduled to participate in this meeting. At the meeting, Japan will strive to reach an agreement on a 10-year action plan and upgrade AZEC to a new level of cooperation. Former Minister Saito also strongly requested that I ensure the success of the meeting. This will be my first overseas visit as Minister, so I will do my utmost.