NST Business
KUALA LUMPUR: Petroliam Nasional Bhd (Petronas) and Jera Co Inc, Japan's largest power generation company, has concluded a memorandum of understanding (MoU) on cooperation in the decarbonisation sector.
Under the MoU, Petronas and Jera will discuss opportunities to cooperate in promoting the use of liquified natural gas (LNG) in Asian countries and in establishing supply chains for ammonia and hydrogen fuels, against the backdrop of growing global demand for LNG and the need for a decarbonised society.
Jera corporate vice president Yukio Kani is pleased to conclude this MoU with Petronas, which shares the company's goal of achieving net zero carbon emissions by 2050.
"We believe that strengthening our cooperation with Petronas will not only expand business opportunities for both companies but also contribute to the stable supply of energy globally and the transition to a decarbonised society," he said in a statement today.
Jera is a 50-50 joint venture between Tepco Fuel & Power, a wholly owned subsidiary of Tokyo Electric Power Company, and Chubu Electric Power.
Jera is one of the world's largest and Japan's first global energy firm to manage both fuel-based and renewable power generation.
Based on the 'Jera Zero CO2 Emissions 2050' announced last year, the company has been working to achieve virtually zero CO2 emissions by 2050 from its operations in Japan and overseas, through the expansion of renewable energy and the development of technologies for zero CO2 emission thermal power generation.
Collaboration between a variety of leading companies is essential in order to establish supply chains for green fuels such as ammonia and hydrogen that are key to zero CO2 emission thermal power generation.
Jera and Petronas have built a good relationship through the sale and purchase of LNG over nearly 40 years.
Because Petronas, one of the leading ammonia producers in Asia, is considering the production of green ammonia and hydrogen, Jera believes there are many businesses in the LNG and decarbonisation sectors in which the two companies can collaborate.
Jera in the statement said will continue to work with energy industry counterparts and other leading companies both in Japan and overseas in order to strengthen its LNG business, renewables business, and establish and expand green fuel supply chains in an energy market undergoing great change.