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    9505   JP3845400005

HOKURIKU ELECTRIC POWER COMPANY

(9505)
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Woodside Energy Ltd., - Feasibility Study on Establishing a Clean Fuel Ammonia Supply Chain from Australia to Japan

07/21/2021 | 07:41am EST

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 nextgeneration 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 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 CCS

CCU 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.

Joint Statement at the Australia-Japan Ministerial Economic Dialogue: https://www.meti.go.jp/press/2021/07/20210715008/20210715008-1.pdf CCSCCU A technology for capturing and storing (CCS: Carbon dioxide Capture and Storage) or effectively utilizing (CCU: Carbon dioxide Capture and Utilization) CO2 emitted from factories and power plants.

Top row, left to right: Woodside Energy Ltd., Shaun Gregory, Executive Vice President, Sustainability and Chief Technology Officer Japan Oil, Gas and Metals National Corporation, Toshikazu Ebato, Executive Vice President, Oil & Gas Upstream Technology Unit Marubeni Corporation, Akihiko Sagara, Managing Executive Officer, Chief Executive Officer, Energy & Metals Group Front row, left to right: Hokuriku Electric Power Company, Wataru Hirata, Director & Managing Executive Officer The Kansai Electric Power Co., Inc, Nozomu Mori, Executive Vice President

Contact:

Tel: 04-2955829

Fax: 04-2955839

(C) 2021 Electronic News Publishing, source ENP Newswire

Stocks mentioned in the article
ChangeLast1st jan.
HOKURIKU ELECTRIC POWER COMPANY -1.71% 576 End-of-day quote.-14.29%
THE KANSAI ELECTRIC POWER COMPANY, INCORPORATED 0.77% 1050 End-of-day quote.7.84%
WOODSIDE PETROLEUM LTD 1.14% 21.34 End-of-day quote.-6.16%
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Sales 2022 577 B 5 121 M 5 121 M
Net income 2022 4 225 M 37,5 M 37,5 M
Net Debt 2022 - - -
P/E ratio 2022 30,3x
Yield 2022 2,60%
Capitalization 120 B 1 063 M 1 067 M
Capi. / Sales 2022 0,21x
Capi. / Sales 2023 0,21x
Nbr of Employees 8 326
Free-Float 86,5%
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Yutaka Kanai Chairman
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