info@marketresearchfuture.com   📞  +1 (855) 661-4441(US)   📞  +44 1720 412 167(UK)

Japan Proposes To Set Up Global Emergency Reserve For Natural Gas

By Anshula Mandaokar , 16 August, 2023

Japan is one of the biggest importers of energy commodities, and the country suggests setting up a global emergency reserve for natural gas like the emergency reserve for oil requirements by the International Energy Agency (IEA) to control any future shortages and hikes in the prices of resources.

According to reliable sources, Japan is expected to put forward the idea of global emergency gas stock at a natural gas conference in Tokyo in July 2023. The European Union has a collective target to have gas storage sites to 90 percent by November 1st of every year after some geopolitical issues. Japan's proposal for an emergency reserve of natural gas is very similar to the IEA emergency oil stocks. Japan is the founding member of the IEA, among other countries, and is hopeful about the new proposal of the emergency reserve for natural gas to boost the security of the gas, as the sources said.

If the IEA implements the proposal to set up the global natural gas stock reserve, it will enhance the organization's significance in gas security. Along with this, the preparedness will always be there to supply in an emergency without disruptions. Japan also suggests that IEA collaborate with other nations for a clean Liquified Natural Gas (LNG) value chain to attain net-zero and gas security assurance in coming years.

Demand/ Supply Blance

NATURAL-GAS-STOCK-2023.jpg

Latest News

period.png
Packaging Manufacturer Collabs with Solar Projects to Enhance Cleantech in 2024

Companies are making significant moves towards the clean energy transition in various ways. In order to reduce carbon emissions, certain companies are investing in several rescue methods in 2024. Renewables production is growing over time as the…

Read More

Amazon.png
Amazon Enables News Technologies to Help its Business Customers

Amazon is one of the leading global e-commerce platforms for consumers. The brand boosts its online shopping experience for users in multiple ways. Surveys show that Amazon regulates several business solutions to increase its products and services…

Read More

2023.png
Asian Carbon Emissions Affects West’s Clean Energy Transition Process in 2024

Globally, countries are facing challenges in the transformation of green energy. The economies worldwide target to achieve net zero emissions. Hence, countries are introducing several ways to reduce environmental carbon emissions. Developing…

Read More

2023.png
China to Boost Oil and Gas Production from New Sources in 2024

China is the leading nation in the energy market. Since the clean energy transition focuses on renewables, China surpasses other nations in renewables production. In a mission to strengthen its energy security, China moves forward with oil and gas…

Read More

market.png
China Copper Export Increases in the Global Market

There will be a surge in copper demand in the energy market in 2024. The growing demand for copper contributes to different usages in the energy market. China stands out in the copper exports of 2024. The Chinese economy is booming, with an…

Read More

Author Pic
Anshula Mandaokar

Team Lead - Research