ID :
95987
Sun, 12/20/2009 - 15:27
Auther :
Shortlink :
https://www.oananews.org//node/95987
The shortlink copeid
Japan to begin stockpiling UAE-produced crude Monday
Tokyo - Dec 20, 2009 (WAM) - Japan will start stockpiling crude oil produced in the United Arab Emirates on Monday under a bilateral agreement that stipulates that Tokyo could receive emergency supplies with priority in the event of a global supply shortage.
Kyodo News quoted a source from Japan's Natural Resources and Energy Agency as saying the first batch of shipments from Abu Dhabi is to arrive in Kagoshima Prefecture, south-western Japan, on Monday, where Abu Dhabi National Oil Company leases a storage tank from the Japanese government. The capacity of the tank is 600,000 kiloliters.
The agreement, signed in June between Japan and Abu Dhabi, is the first such agreement for Tokyo. The partnership is also expected to benefit Abu Dhabi with the aim of expanding its shipments to other East Asian countries, Japanese officials said. The UAE is the second largest oil exporter to Japan after Saudi Arabia.
Kyodo News quoted a source from Japan's Natural Resources and Energy Agency as saying the first batch of shipments from Abu Dhabi is to arrive in Kagoshima Prefecture, south-western Japan, on Monday, where Abu Dhabi National Oil Company leases a storage tank from the Japanese government. The capacity of the tank is 600,000 kiloliters.
The agreement, signed in June between Japan and Abu Dhabi, is the first such agreement for Tokyo. The partnership is also expected to benefit Abu Dhabi with the aim of expanding its shipments to other East Asian countries, Japanese officials said. The UAE is the second largest oil exporter to Japan after Saudi Arabia.
