Japan’s energy policy is at a turning point. Seven years ago, the country experienced a devastating earthquake and tsunami that severely damaged the Tokyo Electric Power Company (TEPCO) Fukushima Daiichi nuclear power plant. The accident led to the shutdown of all 54 of Japan’s nuclear power reactors and to a revision of the country’s energy policy. Japan’s long-term energy policy will reach an important landmark if, as expected, the Ministry of Economy, Trade and Industry (METI) finalizes the revamped national energy strategy in the coming months. At the center of deliberations and debate is the issue of how to achieve a “balanced energy mix.” This article discusses Japan’s struggle to attain this goal and how the country’s energy relations with the Middle East have evolved since the March 2011 Fukushima nuclear accident.
Since the lifting of nuclear-related sanctions in January 2016 as described in the Joint Comprehensive Plan of Action (JCPOA), India’s crude oil imports from Iran have increased markedly ,,, India is currently Iran’s second-largest crude oil customer, after China.
There are two main reasons as to why Chinese crude oil imports from Iran have not grown as much as might have been expected. First, Iran's oil industry has yet to fully recover from the sanctions and to regain its optimal production level. Second, China has continued to diversify its import sources in order to reduce geopolitical risks and oil supply uncertainties.
Since Iran signed the nuclear deal with world powers in July 2015, Tehran has seen a flood of foreign visitors. Nine heads of state, 16 foreign ministers and dozens of other senior-level officials from across the world have come looking for diplomatic deals and economic opportunities. Iran is open for business and, as of mid-May, Tehran had secured about $3.5 billions in foreign investment since the nuclear deal, and billions more are in the pipelines.
The fourth paper in the Regional Cooperation Series explores feasible possibilities for short-term and long-term infrastructure integration across several key sectors: energy, I.C.T., transport and facilitation.
In this week's briefing, MEI experts Charles Lister, Herman Franssen, and Paul Salem provide analysis on recent and upcoming events including the battle for Fallujah, Thursday's OPEC meeting, and Saad Hariri's defeat in Tripoli, Lebanon.