Fuel and energy are crucial for the economy of every country, and they form the basis for national security. Japan lacks substantial energy resources and is highly dependent on imports from abroad. In contrast, Russia is rich in energy resources and extremely reliant upon their exports. Given their complementary energy and economic needs and geographical proximity, Japan – one of the world’s top energy consumers, and Russia – one of the world’s top energy producers, both stand to gain from closer cooperation in the field of energy. This paper provides an analysis of the Russian-Japanese energy relations, depicting their current state and future trends and emphasizing benefits that currently are and potentially can be delivered by means of this collaboration.