Central & SE Asia / Australasia

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Summary | Profile

Country profile: Japan

Location: Eastern Asia, island chain between the North Pacific Ocean and the Sea of Japan, east of the Korean Peninsula.
Climate: varies from tropical in south to cool temperate in north
Terrain: mostly rugged and mountainous
Size: 377835 sq. km total (Land area: 374744 sq. km  Water area: 3091 sq.km)
Population: 127,288,419 (July 2008 est.)
Languages: Japanese
Government: constitutional monarchy with a parliamentary government
Capital city: Tokyo
Legal system: modeled after German civil law system with English-American influence; judicial review of legislative acts in the Supreme Court; accepts compulsory ICJ jurisdiction with reservations
Currency: yen (JPY)
Licensing:

Country profile

Japan boasts one of the largest economies in the world. The country continues to experience a moderate economic recovery that began in 2003, following a decade of economic stagnation. Japan’s real gross domestic product (GDP) grew by 2.5 percent in 2005 and 2.3 percent in 2004. The modest upturn over the last few years reflects higher business confidence in Japan, a surge in export demand led by exports to China, and robust consumer spending. Unemployment in Japan fell to 4.4 percent in 2005, down from an early 2003 peak of 5.5 percent. Japan has virtually no domestic oil or natural gas reserves, and in 2005 was the second largest net importer of crude oil in the world.

Despite the country’s dearth of hydrocarbon resources, Japanese companies have actively pursued upstream oil and natural gas projects overseas. Japan remains one of the major exporters of energy-sector capital equipment, and Japanese companies provide engineering, construction, and project management services for energy projects.

Japan’s National Diet (parliament) elected Shinzo Abe as the country’s new prime minister on September 26, 2006, succeeding Junichiro Koizumi, who held the position for more than five years. Both Abe and Koizumi come from the Liberal Democratic Party (LDP), which has been in power since 1955. Before coming into office, Abe held the post of Chief Cabinet Secretary under Koizumi. Many political analysts expect Abe to adopt similar economic and foreign policies to his predecessor, although this remains to be seen.

Energy production and consumption


Oil Gas
Production: 125,000 bbl/day (2006) 4 billion cu m (2005 est.)
Consumption: 5 million bbl/day (2006) 83 billion cu m (2005 est.)
Exports: 94,830 bbl/day (2006)  billion cu m (2005 est.)
Imports: 5 million bbl/day (2006) 77 billion cu m (2005 est.)
Reserves: 58 million bbl (1 January 2006 est.) 38 billion cu m (1 January 2006 est.)
Major fields:



Japan - recent news

11 Nov 24
Japan: Seatrium signs LOI for a Heavy Lift Vessel for Japan’s wind market
Seatrium has announced that its subsidiary has signed a Letter of Intent (LOI) with Japan-based Penta-Ocean Construction (POC) to carry out early engineering work for a 5,000t fully-revolving Heavy Lift Vessel project for the Japan wind market. Subject to the final investment decision by POC, the full EPC contract award is expected in 1Q 2025.
22 Oct 24
INPEX and Chubu Electric Power sign agreement to jointly study feasibility of Japan-Australia CCS value chain
INPEX has signed an agreement with Chubu Electric Power through its subsidiary INPEX Browse E&P to conduct a joint study to assess the feasibility of establishing a Carbon Capture and Storage (CCS) value chain involving the capture of CO2 in Japan and its transportation from the Port of Nagoya in Aichi Prefecture to Australia for storage.
01 Oct 24
Japan: JAPEX to conduct exploratory drilling to confirm the presence of natural gas in the offshore Hidaka area of Hokkaido
JAPEX is planning to conduct exploratory drilling to confirm the presence of natural gas in the offshore Hidaka area of Hokkaido approx. 5km northwest of the location where exploratory drilling operations were conducted in 2019. While collecting data from the location, JAPEX will conduct a production test on the geological formation which shows an indication of the presence of natural gas.
24 Sep 24
Japan: Vestas secures its largest onshore wind project to date in Japan with 134 MW order from Invenergy
Vestas has secured a 134 MW order from Invenergy, for the Inaniwa Wind Energy Center in Iwate prefecture in Japan. It is Vestas’ largest onshore order to date in the Japanese market.
16 Sep 24
Japan: TotalEnergies joins the first Japanese fund dedicated to the development of low-carbon hydrogen
TotalEnergies has announced its entry as an investor in the 'Japan Hydrogen Fund' at its first close, joining several major Japanese companies in this fund dedicated to developing the low-carbon hydrogen value chain.

Japan - more news

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