The Russian government has recently elevated the 'Asia dimension' in its national energy strategy, viewing the Asia-Pacific as the most attractive market due to the fastest-growing energy demand, stable energy prices, and various business opportunities for Russian energy suppliers. Furthermore, Russia's authorities realize the critical importance of attracting international financial and technological assistance for the development of the rich energy base and infrastructure in the remote areas of Eastern Siberia and the Far East. To achieve these goals, boosting energy cooperation with its partners in the Asia-Pacific, particularly Japan (the region's second largest economy and one of the world's top energy consumers) is crucial. This paper will focus on the major developments and joint projects in Russia-Japan energy relations, focusing on the two countries' cooperation in Eastern Siberia and the Far East. Given the geographical proximity, complementary economic needs, and desire to diversify their respective energy policies, Japan and Russia should naturally seek to expand their energy relations with each other. As Japan and Russia's national energy strategies also stress similar goals, such as the improvement of energy efficiency, promotion of renewable energy resources, conservation of energy resources, and advancement of clean technologies, it is important that they seek to expand their cooperation in these areas, in addition to the traditional trade in crude oil and natural gas. Finally, the paper will also provide a comprehensive assessment of the future prospects of the bilateral energy cooperation in the context of the two countries' relations as a whole.
Svetlana Vassiliouk, Meiji University, Japan
Stream: Energy: Energy Economics and Ecological Economics
This paper is part of the ACSEE2018 Conference Proceedings (View)
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