02-28-2012, 12:20 AM
Yeah Right Jobama! Pump Central has sent updates and our INTEL states that no one -EWC/IOC/Flex/Petromin/KGB LNG/COP/LNGL/PacLNG/Shell/O'Neill/Duma or Somare - can keep you out of their offices! 70 days LNG reserve doesn't last as long as a multi-year war in the Gulf me no thinkie.
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Japan won't be affected if Iran closes Strait of Hormuz: Gemba
TOKYO (Kyodo) -- Japan will not be seriously affected even if Iran closes the Strait of Hormuz, as it has enough oil and liquefied natural gas in reserve, Foreign Minister Koichiro Gemba said Friday.
Gemba also told reporters that he does not expect the flow of oil through the strait to be disrupted for a long period of time even if it is closed, adding that the Japanese government is prepared to bring energy sources from abroad in many different ways.
About 80 percent of Japan's imported oil is passing through the Strait of Hormuz, amid the standoff between the West and Iran over Tehran's nuclear program.
Gemba said that Japan has stockpiled oil reserves equivalent to about 200 days' worth of consumption and about 70 days' for LNG.
"Economically it is not wise also for Iran" to close the strait, given that the Middle Eastern country is highly dependent on revenues from its oil exports, Gemba said. "In order to punish others, it will be very much like shooting oneself in the head."
To prevent Iran from taking provocative steps, Gemba said that "effective sanctions" against the country are needed and Japan still believes it is vital to solve the nuclear issue "diplomatically and peacefully."
"To carry out effective sanctions (against Iran), Japan is actively taking part and I expect that a certain degree of effect will appear bit by bit," he said.
Japan, poor in natural resources, imports nearly 10 percent of its oil from Iran.
It is in the final stage of negotiations with the United States on Washington-led sanctions against Iran, and considering cutting its crude oil imports from the Middle Eastern country by at least 11 percent.
(Mainichi Japan) February 24, 2012
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Japan won't be affected if Iran closes Strait of Hormuz: Gemba
TOKYO (Kyodo) -- Japan will not be seriously affected even if Iran closes the Strait of Hormuz, as it has enough oil and liquefied natural gas in reserve, Foreign Minister Koichiro Gemba said Friday.
Gemba also told reporters that he does not expect the flow of oil through the strait to be disrupted for a long period of time even if it is closed, adding that the Japanese government is prepared to bring energy sources from abroad in many different ways.
About 80 percent of Japan's imported oil is passing through the Strait of Hormuz, amid the standoff between the West and Iran over Tehran's nuclear program.
Gemba said that Japan has stockpiled oil reserves equivalent to about 200 days' worth of consumption and about 70 days' for LNG.
"Economically it is not wise also for Iran" to close the strait, given that the Middle Eastern country is highly dependent on revenues from its oil exports, Gemba said. "In order to punish others, it will be very much like shooting oneself in the head."
To prevent Iran from taking provocative steps, Gemba said that "effective sanctions" against the country are needed and Japan still believes it is vital to solve the nuclear issue "diplomatically and peacefully."
"To carry out effective sanctions (against Iran), Japan is actively taking part and I expect that a certain degree of effect will appear bit by bit," he said.
Japan, poor in natural resources, imports nearly 10 percent of its oil from Iran.
It is in the final stage of negotiations with the United States on Washington-led sanctions against Iran, and considering cutting its crude oil imports from the Middle Eastern country by at least 11 percent.
(Mainichi Japan) February 24, 2012