Tokyo Eyes Lifting Support for Overseas Oil Pipeline Investments

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Or sign-in if you have an account.(Bloomberg) — Tokyo is planning to expand its financial support to Japanese companies investing in pipeline projects overseas including the Middle East, as part of efforts to strengthen alternative oil and gas transportation routes in the Gulf region to bypass the Strait of Hormuz.THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.SUBSCRIBE TO UNLOCK MORE ARTICLESSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.REGISTER / SIGN IN TO UNLOCK MORE ARTICLESCreate an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountThe government will consider measures including risk-capital funding in order to promote Japanese firms’ participation in such pipeline projects, according to a document released by the country’s Ministry of Economy, Trade and Industry late last week. The paper, which outlines key challenges and potential new measures aimed at strengthening Japan’s stable energy supply, was opened for public comment through Aug. 22. The move comes as Saudi Arabia is considering expanding the capacity of its crude oil pipeline to the country’s Red Sea coast, Reuters has reported. The head of Japan’s oil refiners’ lobby group said in mid-July that both Abu Dhabi and Riyadh had asked Tokyo to cooperate in expanding pipeline facilities in the region.Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againThe ministry is likely seeking to expand the role of the Japan Organization for Metals and Energy Security as one of the potential measures to achieve this, according to a Meti official. This includes allowing Jogmec to provide financing for pipeline projects on a standalone basis, the official said.The public company’s mandate for supporting oil transportation investments, including pipelines, is currently limited to projects associated with upstream oil and gas development, according to the ministry.The import-dependent nation relies on the Middle East for nearly all of its oil, and has been hit particularly hard by the effective closure of the Strait of Hormuz. More than 90% of Japan’s crude oil imports passed through the strait in 2025, according to Meti.The country’s crude imports in July are expected to be fully sourced from areas that don’t require transit through Hormuz, Prime Minister Sanae Takaichi said last month, to make up for supply shortages resulting from disruption in the strait.This advertisement has not loaded yet.Notice for the Postmedia NetworkThis website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.