AdvertisementAdvertisementEast AsiaJapan's Prime Minister Sanae Takaichi and Australia's Prime Minister Anthony Albanese react during a press conference at Parliament House in Canberra, Australia, on May 4, 2026. (Photo: Reuters/Hollie Adams)04 May 2026 12:35PM Bookmark Bookmark WhatsApp Telegram Facebook Twitter Email LinkedInAdd CNA as a trusted source to help Google better understand and surface our content in search results.Read a summary of this article on FAST.Get bite-sized news via a newcards interface. Give it a try.Click here to return to FAST Tap here to return to FASTFAST SYDNEY: Australia and Japan agreed on Monday (May 4) to deepen cooperation on energy and critical minerals, as Japanese Prime Minister Sanae Takaichi met her Australian counterpart Anthony Albanese during a three-day visit to the country.After signing a landmark defence deal last month, the two nations agreed to strengthen energy, food and critical minerals supply chains."Australia and Japan are taking action to protect our economies from future economic shocks and uncertainty," Albanese said in a statement."By working together, we will achieve more secure and resilient supply chains that will benefit Australian and Japanese businesses and consumers now and into the future."Show MoreShow LessMalaysia ramps up biodiesel use amid soaring energy billsCommentary: Oil shock will hit Asia harder than the 1970sAustralia provides approximately one-third of Japan’s energy supply, and is the country's largest market for liquefied natural gas.Both nations have been attempting to shore up energy supply as tensions in the Middle East strangle trade. Japanese firms have also been closely watching developments in the Australian liquefied natural gas industry, from the risk of strikes at a major gas facility and rising political pressure to increase taxes on exports."Like Japan, we are very concerned by disruptions to the supply of liquid fuels and refined petroleum products," Albanese said on Monday.Australia also plans to provide support of up to A$1.3 billion (US$937 million) to critical mineral projects with Japanese involvement, creating the potential to supply Japan with resources including gallium, nickel, graphite, rare earths and fluorite.Takaichi arrived in Australia from Vietnam, where she discussed energy and critical minerals and urged Southeast Asian nations to bolster regional supply chains.Last month, Japan signed contracts launching a A$10 billion deal to supply Australia with warships in Tokyo's most significant military sale since ending a ban on such exports in 2014.Singapore, Australia to step up efforts to safeguard oil, LNG tradeSource: Reuters/rlNewsletterWeek in ReviewSubscribe to our Chief Editor’s Week in ReviewOur chief editor shares analysis and picks of the week's biggest news every Saturday.NewsletterMorning BriefSubscribe to CNA’s Morning BriefAn automated curation of our top stories to start your day.Sign up for our newslettersGet our pick of top stories and thought-provoking articles in your inboxSubscribe hereGet the CNA appStay updated with notifications for breaking news and our best storiesDownload hereGet WhatsApp alertsJoin our channel for the top reads for the day on your preferred chat appJoin hereAlso worth readingContent is loading...Expand to read the full storyGet bite-sized news via a newcards interface. Give it a try.Click here to return to FAST Tap here to return to FASTFAST