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THE KANSAI ELECTRIC POWER COMPANY, INCORPORATED

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Kansai Electric Power Incorporated : Japan Oil, Gas and Metals National Corporation - Feasibility Study on Establishing a Clean Fuel Ammonia Supply Chain from Australia to Japan

07/21/2021 | 07:41am EDT

Woodside Energy Ltd., Japan Oil, Gas and Metals National Corporation, Marubeni Corporation, Hokuriku Electric Power Company and The Kansai Electric Power Co., Inc (hereinafter, the 'Parties') have signed a joint research agreement under which they will conduct a feasibility study into the development of a clean fuel ammonia supply chain from Australia to Japan.

Ammonia does not emit CO2 during combustion and is considered a promising next-generation zero-emission fuel for energy intensive thermal power plants and marine engines. Given existing proven technologies for the production, storage and transportation of ammonia, it is expected to have early take-up as a zero-emission fuel.

Japan's Green Growth Strategy established on 26th December 2020 and further refined on 21st June 2021, has also positioned fuel ammonia as one of the key opportunities for Japan to achieve carbon neutrality by 2050.

In relation to Australia, the 'Japan-Australia Partnership on Decarbonization through Technology' including fuel ammonia was announced at the Japan-Australia Summit Meeting on 13th June 2021 and Joint Statement(Note 1) at the Australia-Japan Ministerial Economic Dialogue on 15th July 2021 mentioned that Japan and Australia will work together to promote clean fuel ammonia.

Under the joint agreement, the Parties will conduct a feasibility study of the entire supply chain, including the production of clean fuel ammonia in Australia from natural gas with CO2 abatement methods such as CCSCCU (Note 2) and bio-sequestration; marine transportation to Japan; utilization of ammonia as a fuel for power generation and marine use and financing.

The Parties will work to establish a clean fuel ammonia supply chain between Australia and Japan through collaboration using their respective technologies and knowledge, and will promote efforts to decarbonise both Australia and Japan.

Contact:

Tel: +81-43-276-9279

(C) 2021 Electronic News Publishing, source ENP Newswire

Stocks mentioned in the article
ChangeLast1st jan.
THE KANSAI ELECTRIC POWER COMPANY, INCORPORATED 0.58% 1134 End-of-day quote.16.46%
WOODSIDE PETROLEUM LTD 1.74% 22.17 End-of-day quote.-2.51%
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Analyst Recommendations on THE KANSAI ELECTRIC POWER COMPANY, INCORPORATED
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Financials
Sales 2022 2 603 B 23 496 M 23 496 M
Net income 2022 81 614 M 737 M 737 M
Net Debt 2022 4 438 B 40 062 M 40 062 M
P/E ratio 2022 12,4x
Yield 2022 4,41%
Capitalization 1 013 B 9 148 M 9 142 M
EV / Sales 2022 2,09x
EV / Sales 2023 2,17x
Nbr of Employees 31 933
Free-Float 78,7%
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Mean consensus OUTPERFORM
Number of Analysts 7
Last Close Price 1 134,00 JPY
Average target price 1 165,71 JPY
Spread / Average Target 2,80%
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Managers and Directors
Shigeki Iwane President & Representative Director
Sadayuki Sakakibara Chairman
Noriyuki Inoue Independent Outside Director
Takamune Okihara Independent Outside Director
Tetsuya Kobayashi Independent Outside Director
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