Inpex will supply Japan with fossil fuels from Australia on a priority basis as the Strait of Hormuz blockade threatens shipments from the Middle East, Nikkei reports
- Inpex has not said how much of the fuels it can supply to Japan. The supplies will be drawn from LPG and condensate sold on the spot market.
Context
This development signifies a shift in Japan's energy sourcing strategy, aiming to mitigate risks associated with regional supply chain disruptions due to the Strait of Hormuz blockade. It underscores increased reliance on Australian fossil fuels, potentially influencing energy prices and altering market dynamics in the Asia-Pacific region. Watch for implications on related commodity markets like LNG and overall import policies.
Trade the TapeGet this analysis live, the moment it breaksNewsquawk's real-time dashboard delivers market-moving headlines and instant context to your desk before the rest of the market reacts.
Open Dashboard#INPEX CORP#EU SESSION#US SESSION#ENERGY & POWER