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Japan Looks to Boost Overseas Oil Pipelines
Japan plans to expand its financial support for domestic companies investing in overseas oil pipeline projects, especially in the Middle East, to strengthen alternate routes for oil transportation and bypass the Strait of Hormuz, which poses a threat to national energy supplies. The government proposes providing risky equity financing by enhancing the role of the Japan Oil, Gas and Metals National Corporation (JOGMEC), with the aim of supporting pipeline projects independently. Japan heavily relies on its oil imports from the Middle East, with over 90% passing through the Strait of Hormuz in 2025, and is working to diversify its sources due to the potential closure risks of the strait and its impact on energy security.
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