Hydrogen Central

Cosmo Energy and Iwatani to Develop Hydrogen Businesses

cosmo energy iwatani hydrogen

Cosmo Energy and Iwatani to develop hydrogen businesses.

Japanese oil refiner Cosmo Energy and energy supplier Iwatani are planning to work together to develop hydrogen businesses, on growing demand for the clean fuel as the country tries to achieve its 2050 decarbonisation goal.

Cosmo and Iwatani signed a basic agreement to start discussing possible collaborations on hydrogen filling stations, engineering works related to hydrogen production, and the establishment of hydrogen supply chains, including imports.

Under the agreement, the companies are aiming to create an entity this year that would focus on building and operating hydrogen filling stations, mainly for fuel cell-powered fleet vehicles such as trucks.

The companies are mulling the construction of fuelling facilities adjacent to Cosmo’s petrol stations. Cosmo has operated 2,706 petrol stations across the country as of March 2021.

The companies are also considering utilising Cosmo’s existing oil terminals and unused land, where a refinery was once located, for hydrogen imports.

Iwatani has been accelerating the expansion of its hydrogen business, including investments in overseas projects. It currently holds a 70pc share in Japan’s hydrogen supplies.

The Japanese government is stepping up efforts to promote the use of hydrogen, as well as ammonia, in industries that are proving difficult to shift to low-carbon electrification.

This is part of its discussions about the country’s new clean energy strategy, which is scheduled to be formulated by June. The country’s hydrogen use is forecasted to increase to 3mn t/yr in 2030 and grow to 20mn t/yr by 2050.

READ the latest news shaping the hydrogen market at Hydrogen Central

Japan’s Cosmo, Iwatani eye hydrogen businesses, March 8, 2022

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