Japan govt to up emergency gasoline reserves

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Sept 6 (Reuters) - Japan's government will boost its emergency gasoline reserves to speed up distribution after disasters, business daily Nikkei reported.

The stockpile is meant to buffer disruptions in oil imports resulting from problems like the turmoil in the Middle East.

The government plans to boost reserves of refined petroleum products like kerosene and diesel to 5 percent of total reserves, and stocking a three-to-seven-day supply in each region, Nikkei said.

Currently, crude oil makes up more than 99 percent of Japan's reserves because the quality of refined products deteriorates over time.

Emergency power supplies will be installed at refineries and oil storage facilities, and measures to contain the effects of tsunamis and earthquakes will be implemented, the paper said.

The changes will take two to three years, with the Ministry of Economy, Trade and Industry seeking the necessary funding in this fiscal year's third supplementary budget, the daily reported. (Reporting by Sayantani Ghosh in Bangalore; Editing by Viraj Nair)

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