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King Salman of Saudi Arabia arrives in Tokyo for a three-day visit starting March 12, part of a month-long Asia tour that is seen as building investment and security ties with countries that are some of the biggest customers for the kingdom’s oil.
The king will be making his first trip to Japan since assuming the Saudi crown two years ago, signaling the country is looking for new investment opportunities outside the turmoil in the Arab world. After Japan, the king will travel to Beijing, having completed visits to Malaysia and Indonesia.
In Malaysia, Saudi Aramco — which owns 15% of the Japanese oil refiner Showa Shell Sekiyu — took a stake in a multibillion dollar refinery venture with Malaysia’s Petronas. State-owned Aramco is also planning the world’s biggest initial public offering, which could value the company at $2 trillion.
......Bilateral Saudi-Japanese relations kicked off in 1938, when an envoy for the kingdom’s founder, Ibn Saud, traveled to Japan to attend the opening of the Tokyo Mosque. Japan’s thirst for oil and gas made Tokyo almost fully dependent on the Gulf for more than 80% of its oil supply, with 41% being met by Saudi Arabia.
More recently in 2014, the two countries started discussions that would enable the export of Japanese nuclear reactors to Saudi Arabia, while Saudi exports to Japan rose to US$42.5 billion from US$13.1 billion.
Saudi King starts Japan leg of Asia tour
Saudi Arabia is not sure what US foreign policy is going to look like yet.
The king will be making his first trip to Japan since assuming the Saudi crown two years ago, signaling the country is looking for new investment opportunities outside the turmoil in the Arab world. After Japan, the king will travel to Beijing, having completed visits to Malaysia and Indonesia.
In Malaysia, Saudi Aramco — which owns 15% of the Japanese oil refiner Showa Shell Sekiyu — took a stake in a multibillion dollar refinery venture with Malaysia’s Petronas. State-owned Aramco is also planning the world’s biggest initial public offering, which could value the company at $2 trillion.
......Bilateral Saudi-Japanese relations kicked off in 1938, when an envoy for the kingdom’s founder, Ibn Saud, traveled to Japan to attend the opening of the Tokyo Mosque. Japan’s thirst for oil and gas made Tokyo almost fully dependent on the Gulf for more than 80% of its oil supply, with 41% being met by Saudi Arabia.
More recently in 2014, the two countries started discussions that would enable the export of Japanese nuclear reactors to Saudi Arabia, while Saudi exports to Japan rose to US$42.5 billion from US$13.1 billion.
Saudi King starts Japan leg of Asia tour
Saudi Arabia is not sure what US foreign policy is going to look like yet.
