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METI Minister Akazawa Commemorates 13th Anniversary of Great East Japan Earthquake, Discusses Energy Market Stabilization
Commemoration of 13th Anniversary of Great East Japan Earthquake and Commitment to Reconstruction
METI Minister Akazawa offered deep condolences to the victims and their families on March 11 (tomorrow), the 13th anniversary of the Great East Japan Earthquake and the Fukushima Daiichi Nuclear Power Plant accident. He recalled the sorrow of those who lost family members to the tsunami, stating that these experiences motivated his dedication to disaster prevention activities. The Ministry of Economy, Trade and Industry (METI) has made the safe and steady decommissioning of the Fukushima Daiichi Nuclear Power Plant and the reconstruction of Fukushima its top priorities over the past 13 years, and he emphasized that long-term efforts will continue for lifting evacuation orders and industrial reconstruction. He is scheduled to attend the Memorial and Reconstruction Ceremony hosted by Fukushima Prefecture and pledged every effort to achieve reconstruction as quickly as possible alongside the affected residents.
Stabilization of International Energy Markets and Response to Oil Prices
Regarding the International Energy Agency (IEA) Executive Director's request for crude oil reserve releases at yesterday's G7 Finance Ministers' Meeting, METI Minister Akazawa explained the discussion outcomes. He stated that the G7 issued a joint statement announcing its readiness to take necessary measures to stabilize global energy supply, and he assessed that the joint release of reserves by IEA member countries is an effective tool for stabilizing international markets. He also noted that he met online with the IEA Executive Director last night and will attend tonight's G7 Energy Ministers' Meeting online to discuss the Middle East situation surrounding Iran and response measures for market stabilization.
He expressed concern over soaring crude oil prices, mentioning that crude oil shipments passing through the Strait of Hormuz could be delayed, leading to a significant reduction in crude oil arriving in Japan in approximately 10 days. The Japanese government emphasized that it will remain vigilant regarding the Middle East situation and prepare thoroughly for all possibilities to secure a stable energy supply. Furthermore, Japan stated its position to support the IEA's joint release of reserves given the current heightened concerns about tight supply and demand in the international crude oil market. The government is considering diversifying crude oil procurement sources and domestic oil price stabilization measures to stabilize oil prices, adding that it will flexibly implement necessary measures to minimize the impact on national life and economic activities.
*Source: YouTube: 日テレNEWS (2026-03-10)*
