The around ¥337 million worth of fuel purchased by the Tokyo Metropolitan Government from oil retailer associations in preparation for a major earthquake in the capital is not actually in storage, sources said Tuesday.
The oil stockpiles were purchased under a system introduced by the metropolitan government in 2013 ahead of other municipalities, as the capital faced fuel shortages in the wake of the huge earthquake and tsunami that hit northeastern Japan on March 11, 2011.
Under an agreement reached between the Tokyo Metropolitan Government and the associations, ownership of the fuel was supposed to be transferred to the Tokyo government following payment.