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ECONOMY > Energy

Tokyu Land to enter offshore wind power project

Tokyu Land Corp. has announced that it will enter an offshore wind power generation project in Aomori Prefecture. The company has jointly established a special purpose company (SPC) with Danish investment firm Copenhagen Infrastructure Partners (CIP). The new company aims to win a bid for an offshore wind power development project in Aomori Prefecture along the Sea of Japan. The….Read more

  • August 2, 2022
  • , NIKKEI Business Daily , p. 2
  • JMH Translation

ECONOMY > Energy

Mitsui, Mitsubishi cut value of stakes in Sakhalin-2 energy project 

All national dailies wrote that Mitsui & Co. and Mitsubishi Corp. said on Tuesday that they have cut the value of their stakes in the Sakhalin-2 oil and natural gas project in the Russian Far East by a combined 217.7 billion yen ($1.7 billion) — Mitsui by 136.6 billion yen and Mitsubishi by 81.1 billion yen. They cited growing business uncertainty….Read more

  • August 3, 2022
  • , All national papers
  • JMH Summary

ECONOMY > Energy

Japanese firms rushing to find alternative to Sakhalin-2 LNG

By Nagata Takehiko   A month has passed since Russian President Vladimir Putin signed an executive order to transfer the operation of the Sakhalin-2 oil and natural gas development project, in which two Japanese trading firms have stakes, to a new Russian firm. Japan intends to retain its interests in the project, but the likelihood of Russia cutting the supply….Read more

  • August 1, 2022
  • , Sankei , p. 11
  • JMH Translation

ECONOMY > Energy

JR Kyushu to set up solar power stations on idle land

On July 29, major solar power installation company West Holdings said Kyushu Railway [JR Kyushu] will set up solar power stations on a few dozen idle plots of land it owns along its rail tracks in fiscal 2023. The generated electricity will be purchased by Osaka Gas at a fixed price and sold to JR Kyushu’s stations and other facilities….Read more

  • July 30, 2022
  • , Nikkei , p. 13
  • JMH Translation

ECONOMY > Energy

After 40 years, Kaminoseki nuclear power project faces bleak future

Chugoku Shimbun   Forty years have passed since the town of Kaminoseki in Yamaguchi Prefecture announced its bid to host a nuclear power plant. However, Chugoku Electric Power’s plan to build the Kaminoseki Nuclear Power Station has been stalled ever since preparation work was halted in the immediate aftermath of the March 2011 Fukushima No. 1 meltdown.   Coupled with….Read more

ECONOMY > Energy

70% support use of nuclear power this winter, Nikkei poll

The Nikkei poll conducted on July 29–31 probed views on the government plan to restart up to nine nuclear power plants to cover energy shortages anticipated this winter. A total of 70% of pollees were in favor of using nuclear power, with 51% saying that “the policy is appropriate” and 19% saying that “more nuclear power plants should be restarted.”….Read more

INTERNATIONAL > U.S.

At economic 2+2, discussions on energy security did not deepen

By Nagata Takehiko   The joint statement released after the inaugural economic 2+2 included cooperation in energy security, but it is hard to conclude that Japan and the U.S. had in-depth discussions on the matter. They agreed to the importance of energy security that has come into the international spotlight following the Ukraine crisis, but they emphasize different agendas. The….Read more

ECONOMY > Energy

Japan’s Sakhalin-2 LNG buyers told to pay bank inside Russia

Russian-owned operator apparently aims to shield funds from Western sanctions   YUTA TAKAGI, Nikkei staff writer   TOKYO — Japanese importers of liquefied natural gas from Russia’s Sakhalin-2 energy project have been told to change how they make payments, instructed to pay a Russian branch of a European bank, sources say, a move likely intended to shield Moscow’s LNG revenue from….Read more

  • July 30, 2022
  • , Nikkei Asian Review , 12:36 a.m.
  • English Press

ECONOMY

METI drafts plan for large-scale nuclear power plant to start operations in 2030s

By Asakawa Taiki   On July 29, the government presented a draft plan for the construction and operation in the 2030s of the first commercial large-scale nuclear power plant. The new plant will have the latest-technology “innovative light water reactors.” The government positions the draft as an interim plan that summarizes the opinions of experts. The government explains that “our….Read more

ECONOMY

Synthetic methane could reduce Japan’s dependence on imported LNG

By Takehiko Nagata   Major gas companies and others are beginning to put their strength into “methanation,” the process of producing synthetic methane from hydrogen and carbon dioxide (CO2). This is the same methane that is the main component of gas produced in cities.   By using CO2 during the manufacturing process, emissions from city gas are offset. Since the….Read more

  • July 29, 2022
  • , Japan Forward
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