Official Japanese sources say that the country’s government, for the time being, does not need to call on people to cut back on the use of electricity and gasoline.
Japan relies on the Middle East for more than 90 percent of its crude oil imports, with much of it passing through the Strait of Hormuz. But Iran is currently imposing a de facto blockade on the crucial waterway as part of its response to the ongoing conflict with the US and Israel.
Against this backdrop, Japan is currently working to import crude oil through alternative routes. Options include shipping from the United States and transport from the Middle East that bypasses the Strait of Hormuz.
The Japanese government now forecasts that in May, it will be able to procure an amount equivalent to around 60 percent of the level the country imported in the same period last year.
The government also expects that coupled with releases from oil reserves, Japan will be able to secure enough crude oil to cover its needs through early next year.
Prime Minister Takaichi Sanae explained on social media that Japan owns roughly eight months’ worth of oil stockpiles, with efforts to import through alternative routes making steady progress. She stressed that Japan is securing a sufficient amount for the entire nation.
Multiple government sources say Japan, for some time to come, will not be in a situation that may spur the authorities to implement such a conservation drive. The sources say the balance between supply and demand in the country has so far remained intact.
However, some ruling and opposition party members say the government will need to urge the public to curtail the use of power and gasoline if the circumstances surrounding Iran drag on.
The government plans to study what measures could become necessary while closely monitoring how the situation related to Iran will develop.
One point of discussion will likely be an energy-conservation campaign it initiates every summer to curtail power consumption.
AloJapan.com