NHK has learned that the Japanese government is in talks to sign a memorandum of understanding with Italy on the supply of liquefied natural gas. Tokyo would get priority to procure the energy source during emergencies such as natural disasters.
The purchase of LNG would be made through the Japan Organization for Metals and Energy Security.
The transaction would be with Rome-based energy giant Eni. The firm produces and sells oil and natural gas in Africa, Southeast Asia and many other parts of the world. The Italian government is a large shareholder.
Prices of LNG, a key fuel for thermal power generation, soared following Russia’s invasion of Ukraine. Securing a stable supply of the resource is a major global issue.
The Japanese government is looking at ways to support companies that will sign long-term contracts to buy it.
Officials believe that LNG will remain an important energy source for the time being despite decarbonization efforts.