Japan’s exploration and production company INPEX Corporation has concluded an agreement to acquire shares in Japan Suiso Energy (JSE), a joint venture between Kawasaki Heavy Industries and Iwatani Corporation, and take part in developing an international liquefied hydrogen supply chain.
As a result of the shareholder agreement, INPEX will hold a 30% equity stake in JSE, Kawasaki 36.6%, and Iwatani 33.4%.
JSE was established to research, plan, invest in, and operate an international liquefied hydrogen supply chain and is currently engaged in the Liquefied Hydrogen Supply Chain Commercialization Demonstration Project selected by the New Energy and Industrial Technology Development Organization’s (NEDO) Green Innovation Fund project in August 2021.
The project aims to support the development of hydrogen liquefaction and transportation technology on a scale of tens of thousands of tons per year for commercialization in the 2030s and the establishment of an integrated international liquefied hydrogen supply chain from Australia to Japan.
“INPEX’s experience and knowledge will be critical for JSE to demonstrate commercialization efforts, build an international liquefied hydrogen supply chain and strengthen international competitiveness”, the partners stated.
The Japanese government’s Basic Hydrogen Strategy revised in June 2023 targets the introduction of up to 3 million tons per year of hydrogen in 2030, followed by 12 million tons in 2040 and 20 million tons in 2050. The strategy also targets a hydrogen supply cost of approximately 30 yen per normal cubic meter in 2030, and 20 yen per normal cubic meter in 2050 on a CIF.