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View all search resultsRI, Japan seek deeper energy ties after $23.6b in deals
The business agreement covers the energy sector with Japan’s INPEX, as well as technology, finance, fertilizer and tourism.
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Indonesian President Prabowo Subianto attends the Indonesia–Japan Business Forum on Monday at the Imperial Hotel Tokyo. (BPMI Setpres/Laily Rachev)
J
apan is seeking to work more closely with Indonesia on energy security, Prime Minister Sanae Takaichi said, as global concerns over supply disruptions intensify amid escalating geopolitical tensions.
“In light of the Iran situation, the strategic importance of resources and energy security is once again being recognized globally. Indonesia is a major resource-rich nation,” Takaichi said alongside President Prabowo Subianto after bilateral talks in Tokyo on Tuesday, as quoted by Reuters.
Her remarks set the tone for a series of agreements signed during Prabowo’s visit, where Jakarta and Tokyo inked 10 memoranda of understanding (MoUs) and strategic business deals worth a combined US$23.63 billion.
The agreements were announced at the Indonesia-Japan Business Forum held at the Imperial Hotel Tokyo on Monday, spanning a wide range of sectors such as clean energy-based downstream projects, oil and gas exploration, geothermal development and financial inclusion.
Prabowo’s visit took place amid escalating tensions in the Middle East that have disrupted oil and gas flows through the Strait of Hormuz. Japan has moved to safeguard supplies by ramping up coal use, tapping oil reserves and seeking alternative sources.
Indonesia remains a key partner, as the world’s largest thermal coal exporter and a major LNG supplier, with about a quarter of its shipments bound for Japan.
During the summit, both countries also pledged to push for deescalation in the Middle East, to “would make their best efforts to convince all parties to deescalate,” Prabowo said, while also inviting greater Japanese participation in Indonesia’s economy, including in critical minerals, rare earths, industrialization and nuclear energy.
