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The article discusses the loss of nuclear power generation supply due to the damage from earthquake and tsunami that hit Japan on March 11, 2011 which has led suppliers to recognize Japan's need for alternative sources of energy. The Sakhalin-3 project of Russia, Qatargas, and Indonesia are among those ready to support Japan with its liquefied natural gas (LNG), coal, and fossil fuel oil supply. A tightening of the LNG market and a rise in coal prices are described to be a possibility.

The article reports on the support pledged by the Japanese government to the sanctions imposed against Iranian oil and banking industries. Japan's Finance Minister Jun Azumi said that his country will launch initiatives to reduce its oil dependency on Iran. Meanwhile, a European Union (EU) diplomat said that allowing Europeans to continue accepting oil for debt repayments will reduce the crude supply of Tehran, Iran.

The article reports that Saudi Aramco will start sending shipments of oil stored in Okinawa, Japan to the U.S. West Coast. Saudi Aramco has increased its official light crude prices in the U.S. starting the September 2011 shipments as it raised also the prices of Arab Super Light and Arab Extra Light in the Asian market. The company sold its first crude from the Okinawa storage tanks to GS Caltex.

The article claims that the current levels of global oil demand would buffer the impact of Japan's nuclear crisis on Kuwait, according to Kuwait Petroleum Corp. (KPC) Managing Director Abdelatif Al-Houti. Al-Houti notes the price balance created by the nuclear crisis in Japan due to its reduced oil consumption. The rising energy demand in Kuwait is attributed to the nation's growing demand for electricity. KPC is also studying the possibility of long-term imports of liquefied natural gas.

The article offers information on a report on the impact of the March 2011 earthquake and resulting tsunami on the Japanese refining industry released by FACTS Global Energy. According to the report, at least six refineries stopped operations due to the disaster. This resulted in the suspension of an estimated 1.4 million barrels per day (b/d) of refining capacity.

The article reports on the expected increase in demand for crude oil and liquefied natural gas (LNG) in Japan in the summer of 2011. As of March 28, 2011, crude oil futures prices increased by 1.6% on speculation that rebuilding efforts in Japan, which was hit by earthquake and tsunami on March 11, will drive fuel consumption. The Petroleum Association of Japan reports that domestic demand for petroleum products totals 3.3 million barrels per day.

The article discusses the highly sophisticated nuclear science and technology capability developed by Iran, which it is ready to share with neighboring nations and friendly countries in the region according to Iran's High Council for Human Rights head Mohammad Javad Larijani. It says that Larijani's statement was timed to coincide with support for Syria, which is an ally of Iran. The role of Japan in Turkey's nuclear development is also discussed.

The article reports that top Japanese shipping lines including Nippon Yusen KK, are planning to invest in vessels to carry liquefied natural gas (LNG) and oil. According to the article, there is a huge demand from oil majors for ships designed to transport oil from offshore fields to onshore storage facilities and Nippon Yusen considering to invest 50 billion Japanese yen in these tankers. It is also reported that Singapore shipping lines are following the lead by the Japanese firms.

The article reports on the crisis created by the shutdown of nuclear power plants to the oil and gas industry of Japan as of August 2011. Consequently, international oil and gas suppliers are reportedly gearing up to supply the changing needs of the Japanese customers. These companies include Saudi Aramco, Mitsui OSK Lines Ltd. and Frontline Ltd., among others. Likewise, it observes that the shutdown has opened up new opportunities, specially for suppliers and carriers of liquefied natural gas.

The article focuses on the cooperation agreement entered by Japan with Russia as part of its energy diversification strategy. Japan's Minister of Economy, Trade and Industry Banri Kaieda has noted that the Route from Russia is important for delivery of natural gas and oil. Japan has increased the volume of oil imported from Russia in the first 11 months of 2010. A new agreement has also been signed by Japan with Russia's OAO Gazprom.

The article reports on the plan of the Japanese government and Inpex Corp. to withdraw from Azadegan oil field in Iran to avoid violating U.S. sanctions against the country. In the event that Inpex is one of the companies subject to sanctions, the company's access to the U.S. market will reportedly be restricted. Japan also has decided to impose new sanctions against Iran, including freezing the assets of people and entities linked to the nuclear program of Iran.