The United States and Japan agreed on Wednesday to deepen cooperation in semiconductor supply chains and energy security amid global supply constraints following the ongoing war between Russia and Ukraine.
Japan’s Industry Minister Koichi Hagita met with US Secretary of Commerce Gina Raimondo in Washington on Wednesday to discuss the US-Japan partnership in semiconductors, export control, the digital economy, and trade and investment.
In a joint statement (pdf), Both officials said they would strengthen cooperation in diversifying semiconductor capacity, increasing transparency, coordinating emergency response to shortages, and promoting labor development.
According to a Commerce Department press release, Mr. Lymond thanked Japan for “continuing support and feedback to help facilitate the launch of the Indo-Pacific Economic Framework (IPEF).”
“We welcome you more [U.S.] “Economic involvement in the Indo-Pacific,” said Hagiuda. report. “We want to contribute to the realization of IPEF.”
This framework was part of the Biden administration’s regional involvement initiative announced last October to counter China’s growing economic influence.
Meanwhile, Hagita also met with US Secretary of Energy Jennifer Granholm, emphasizing the need to maintain energy security in Russia’s provocative invasion of Ukraine.
They are Joint statement Liquefied natural gas (LNG) produced in the United States has played an “important role” in alleviating global supply constraints.
The two countries are aiming to develop “state-of-the-art clean energy solutions” and are working closely on various international frameworks “to promote the realization of a net-zero economy and the assurance of global energy security.” Stated.
Japan’s Prime Minister Fumio Kishida has expressed his intention to step up efforts to reduce Russia’s dependence on energy, but Japan withdraws from the Saharin 2 LNG project in the Far East of Russia because of its important role in Japan’s energy security. I said earlier that I wouldn’t. ..
Russia is Japan’s fifth largest supplier of LNG, accounting for about 8 percent of the country’s consumption. The Sakhalin 2 oil and gas project in the Far East of Russia is one of Japan’s major sources of LNG, with an annual production capacity of 9.6 million tonnes.
Japan’s Mitsui and Mitsubishi own 12.5% and 10.5% shares in the Sakhalin 2 project, respectively, and Russia’s state-owned Gazprom PJSC owns 50%. Shell, which holds a 27.5% stake, has completed the project in response to the war in Ukraine.