METI: Minister Nishimura Holds Online Conference with H.R.H. Prince Abdulaziz bin Salman, Minister of Energy, Saudi Arabia

On October 19 (Wed.), Mr. Nishimura Yasutoshi, Minister of Economy, Trade and Industry, held an online conference with H.R.H. Prince Abdulaziz bin Salman, Minister of Energy, Saudi Arabia.

The two ministers confirmed that they would strengthen the bilateral relationship between Japan and Saudi Arabia in the field of energy. They also emphasized the importance of supporting the stability of global oil markets by encouraging dialogue and collaboration between producing and consuming countries, and highlighted the need to ensure secure supplies of all energy sources in global markets, noting that Saudi Arabia continues to be Japan’s largest source of reliable crude oil supplies and its reliable and trusted partner.

They also stressed the importance of ongoing investments and cooperation in research, development and deployment of technology to enable the transition to cleaner energy systems, particularly to renewable and new low carbon fuels such as hydrogen/ammonia, and abatement of carbon such as Carbon Recycling/ carbon capture, utilization and storage (CCUS).