[Japan] JERA creates oil storage company to manage national reserve

As of October 2, 2026, JERA established a new company under a joint contracting arrangement with the Japan Organization for Metals and Energy Security (JOGMEC) to operate Japan’s national petroleum stockpiling bases, as Japan faces heightened oil-supply risks following disruptions to crude flows through the Strait of Hormuz. More than 90% of Japan’s crude imports from the Middle East pass through the strait, and Japan has joined the international release of strategic oil reserves while seeking alternative supplies from regions including Canada, Azerbaijan, and Africa. Against this backdrop, JERA OIL STORAGE will take over operations at four national stockpiling bases—Tomakomai-Tobu, Akita, Fukui, and Shibushi—around April 2029, with responsibility for maintenance, safety, disaster prevention, and ensuring oil can be released quickly during supply emergencies.

[1] https://www.jera.co.jp/en/news/information/20261002_2521