Japan's Takaichi to Unveil 3 Energy Security Principles at G7

Tokyo, June 11 (Jiji Press)--Japanese Prime Minister Sanae Takaichi plans to propose three principles on energy security at the upcoming Group of Seven summit in France, which opens Monday, informed sources said Thursday.

With the proposal, Takaichi aims to seek support from Japan's G7 partners for the Partnership on Wide Energy and Resources Resilience, or POWERR Asia, an energy assistance framework for countries facing difficulties procuring crude oil amid the worsening situation in the Middle East.

The proposal is also designed to pave the way for expanding strategic oil reserves through broader international cooperation.

Takaichi aims to reflect the proposal in an outcome document, government sources said.

The proposal calls for ensuring free and transparent trade, strengthening oil reserves in cooperation with the International Energy Agency and fostering cooperation between oil-producing and oil-consuming countries.

[Copyright The Jiji Press, Ltd.]