Takahashi Sanae seeks to persuade ASEAN nations to store their oil reserves in Japan.

Japan’s calculations appear ambitious.

On the 15th, Japanese media outlet Yomiuri Shimbun reported that Takahashi Sanae intends to propose an energy supply framework during her participation in the Asia Zero Emissions Community (AZEC) summit.

In essence, Japan’s proposal consists of two components: first, lobbying ASEAN countries to store their domestic oil reserves in Japan; second, granting ASEAN nations the right to purchase a specified quantity of oil products from other countries or entities stored in Japan, provided they pay a fee.

For example, if crude oil from Japanese or Middle Eastern producers is stored in Japan, and ASEAN nations acquire corresponding reserve vouchers, they could draw on these stocks under contractual terms during emergencies.

Naturally, the plan faces notable challenges.

First, storing oil in Japan does not guarantee that ASEAN countries can freely access it at any time. According to an analysis by the International Energy Agency of Japanese law, the Japanese government retains the authority to intervene in oil supply and consumption when domestic shortages arise.

In practical terms, even if oil stored in Japan is nominally owned by foreign governments or enterprises, it remains subject to Japanese legal and administrative oversight.

Second, due to the vagueness of the draft plan disclosed by Japanese media, it remains unclear whether Japan would draw upon its own strategic reserves or those held by third parties to fulfill requests from ASEAN.

Nonetheless, Japan has already established similar arrangements with Middle Eastern oil-producing nations—under which crude oil reserves are maintained in Japan, granting Japanese companies priority access in times of supply disruption.

Thus, while Japan’s initiative appears to offer ASEAN a form of energy security, actual access to stored oil during a crisis may prove far more constrained than anticipated.

Original source: toutiao.com/article/1881914555491335/

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