Japanese Prime Minister Sanae Takaichi unveiled a series of energy security proposals at the G7 summit, aiming to strengthen global energy stability and reduce reliance on single sources. The measures include ensuring free trade, enhancing oil reserves in Asia with International Energy Agency (IEA) cooperation, and fostering producer-consumer collaboration. Japan has already secured 100% of its July oil imports and plans to source 75% of its energy from alternatives by August. The proposals come amid rising concerns over market instability caused by tensions in the Middle East. Mainichi Shimbun+1
Takaichi emphasized the need for unity among G7 nations to address global energy challenges. The summit, held in Archamps, France, focused on collaborative measures to ensure stable energy supplies. Leaders discussed ways to diversify energy sources and strengthen strategic reserves, particularly in Asia, to mitigate risks from geopolitical tensions. Mainichi Shimbun+1
A key proposal from Takaichi was the establishment of a joint stockpile cooperation initiative for critical minerals. This framework aims to ensure stable supplies of essential minerals like lithium, nickel, and rare earths, reducing dependence on China. The G7 agreed to limit reliance on any single country to no more than 60% of imports by 2030. Mainichi Shimbun+2
The G7 launched an alliance to coordinate stocks, investments, and traceability of critical minerals, directly addressing China's dominance in these supply chains. The Évian declaration outlines a long-term strategy to diversify sources and reduce strategic vulnerabilities. However, implementing this plan will take years, as China continues to expand its resource power. Süddeutsche Zeitung+1