Australia approves the North West Shelf Gas Plant to operate until 2070
Australia approved Woodside's application to operate Australia's second largest and oldest liquefied gas plant, the LibNaGa Plant, until 2070. The new emission rules were imposed to reduce its environmental impact. North West Shelf, a plant in Western Australia, is expected to emit up to 4.3 million metric tons carbon dioxide over its lifetime. Critics say this will endanger nearby ancient rock art as well as set back climate change efforts.
Mitsubishi abandons offshore wind farms in Japan
A senior official in the industry ministry said that Japan wants to re-auction as many offshore wind sites as possible as soon as they can, subject to local community consent. The trading house Mitsubishi Corp announced on Wednesday that it would no longer build wind farms in the prefectures of Akita and Chiba due to rising costs. In 2021, the first state-wide auctions were held to award the rights to construct and operate these farms.
Mitsubishi is considering abandoning offshore wind energy projects in Japan
Mitsubishi Corp announced on Wednesday that it is considering withdrawing from 3 Japanese offshore wind projects. Three wind farms are owned by Mitsubishi-led consortiums in Japan's Chiba Prefecture and Akita Prefecture. The trading house announced in February it was reevaluating how to proceed given the "significantly altered" business climate. Mitsubishi recorded a charge for the projects of 52.2 billion Japanese yen (354 millions dollars) earlier this year.
Nikkei reports that Mitsubishi Corp. and others will withdraw from three offshore-wind projects in Japan.
The Nikkei daily reported that a consortium led by Mitsubishi Corp is planning to pull out of three offshore wind projects in Japan's Chiba Prefecture and Akita Prefecture due to concerns about profitability. Japan, which is heavily dependent on imported energy, has turned towards renewable energy in order to boost energy security and achieve carbon-neutrality by 2050. When contacted by, a Mitsubishi Corp spokesperson stated that nothing had been decided. The company is also still evaluating its domestic offshore projects.
Sources say Shell-led LNG Canada is facing problems when it ramps up its production.
Shell-led LNG Canada has been experiencing technical difficulties as it ramps production up at its liquefied gas plant in Kitimat. One LNG tanker was diverted away from the facility recently without superchilled fuel, according to data provided by LSEG and four sources. The facility is the first major LNG-export facility on the West Coast of North America and Canada, and provides direct access to Asia, which is the largest LNG market in the world.
CPC Corp Looks to Buy US Shale Gas Assets
Taiwan's state-owned energy company CPC Corp is in early stage discussions to buy shale-gas producing assets in the United States, three sources familiar with the matter said, in a bid to secure natural gas supplies to fuel Taiwan's economy.If a deal is struck, CPC would join a growing list of Asian companies taking ownership of U.S. natural gas assets, gaining exposure to the commodity at a time that the United States is expanding…
Canada exports first LNG cargo from Pacific Coast
A spokesperson for Shell-led LNG Canada confirmed on Monday that Canada's first LNG export cargo was shipped from its Pacific Coast to Asia. The cargo was loaded on the tanker Gaslog Glasgow at LNG Canada's Kitimat site, British Columbia. This happened just over a weeks after the facility had confirmed its first production. It became the first large commercial LNG operation of the country. LNG Canada is North America's first major LNG plant with direct access to Pacific Coast.
Australia approves Woodside's North West Shelf LNG Plant to operate until 2070
Australia approved Woodside Energy’s request on Wednesday to extend the lifespan of its North West Shelf Gas Plant until 2070. This follows a six-year process that was plagued by delays, complaints and criticism from environmental groups. North West Shelf, located in Western Australia on the Burrup Peninsula, is Australia's largest and oldest liquefied gas plant. It also serves as a major supplier of LNG to Asian markets. In a press release…
JERA, Japan's LNG supplier, may look at Alaska, says exec
JERA, Japan’s largest power generator, could consider Alaska as a possible source of liquefied gas (LNG), according to an executive on Monday. Japanese officials will be heading to the United States for another round in tariff negotiations this week. Alaska LNG, which is a $44 billion project that includes a pipeline, an LNG plant and other components, has been at the forefront of President Donald Trump’s agenda when dealing with Asian partners. He wants Japan, South Korea, and Taiwan to support this massive project.
Asian countries are looking to purchase more US energy in order to balance trade imbalance
As they try to reduce their trade surpluses with Washington, Asian governments are buying more U.S. gas and oil in order to ease their tariff burdens due to President Donald Trump’s new import duties. Many Asian countries have large trade surpluses and also are major energy importers. Trump's tariffs have caused economic and market turmoil. Here are some measures Asian countries will take to increase their purchases of U.S. gas and oil.
Asian countries are looking to purchase more US energy in order to balance trade imbalance
As they try to reduce their trade surpluses with Washington, Asian governments are buying more U.S. gas and oil in order to ease their tariff burdens due to President Donald Trump’s new import duties. Many Asian countries have large trade surpluses and also are major energy importers. Trump's tariffs have shook markets and economies. Here are some measures Asian countries will take to increase their purchases of U.S. gas and oil.
Mitsubishi to invest $27 billion in the next three years to drive growth
Mitsubishi Corp, a Japanese trading company, said it would invest 4 trillion yen (about 27 billion dollars) in the next three financial years to boost growth. It also aims to increase its net profit from 1.2 trillion to 1.2 trillion by 2027/28. Mitsubishi announced its new management strategy for the next three years, starting this month. It also stated that it would continue its basic policy, which includes progressive dividends and flexible buybacks of shares…
Japan adopts new policies on energy, climate and industry through 2040
The Japanese government approved new targets on Tuesday to reduce the country's emissions of greenhouse gases through 2040. It also approved a revised energy policy and updated industrial policies for the same time period. The measures are aimed at enhancing long-term stability of policy for businesses. They focus on decarbonisation and ensuring stable energy supplies, as well as strengthening industrial capacities to drive economic growth.
Mitsubishi charges $342 Million for Japan Offshore Wind Projects
Mitsubishi Corp., a Japanese company, announced on Thursday that it had taken an impairment charge of 52.2 billion yen (US$342.4 million) on its domestic offshore projects for the nine months ended in December. Mitsubishi led consortiums that won Japan's state-run auctions for wind farms in 2021. The projects include three offshore wind farms. The farms had a capacity of 1,76 gigawatts, and they were scheduled to begin operations between 2028-2030.
Marubeni targets a net profit of over $4 billion in FY 2027/28
Marubeni, a Japanese trading company, said it aims to achieve a net profit in excess of 620 billion yen (about $4 billion) during fiscal 2027/2028. It also aims for a return on total shareholders of 40%. The company reported a 14.5% increase in its April-December net income to 425.2 billion Japanese yen. It also revised its forecast for the full year to March, from an earlier guidance of 480 million yen. Masumi Kakainoki, Chief Executive Officer of the company…
Mitsubishi reviews Japan offshore Wind Projects amid Market Shifts
Mitsubishi Corp announced on Monday it would review its plans for the development of offshore wind in Japan. The company cited a "significantly altered" business climate, which included inflation and a stronger yen. The Japanese trading house has selected consortiums to operate three offshore projects between 2028 and 2030 in Akita Prefecture, in the north of the country, and Chiba Prefecture, east of Tokyo. These projects have a total capacity of 1,76 gigawatts and are expected to start up in 2028 or 2030.
BP and its partners invest $7 billion into a carbon capture project in Indonesian Papua
BP and its partners announced that they will invest $7 billion into a carbon-capture project and the development of gas fields in Indonesia's easternmost Papua Region, which could unlock an additional 3 trillion cubic feet in gas resources. The British oil producer announced its investment in London on Thursday during a meeting between President Prabowo Subito, who was visiting London. The company said that production at Ubadari is expected to begin in 2028.
Equinor, a Norwegian company, tries to lease an offshore wind farm in Japan again.
Two sources claim that Equinor, a Norwegian energy company, has bid with other companies to build an offshore wind farm in Japan's latest state auctions. It is looking for a foothold on the market. Equinor’s bid shows that some wind players have their eyes on Japan, even though they are cutting back elsewhere. This is despite the frustration of some international players with strict bidding regulations and an auction round won by Japanese companies.
Canadian Natural Gas Companies eager to capitalize on the LNG boom flood the market with excess supply
Analysts said that a huge LNG Canada terminal, led by Shell, could struggle to raise Canadian natural-gas prices dramatically when it begins operating next year, because of a glut of supply waiting to be released. Storage was full, and the price of a million British thermal unit (mmBtu), which had been at a high for two years, dropped to 5 Canadian cents in late September. The slump hurts producers who increased drilling activity in anticipation of LNG Canada's new demand and has prompted some firms curtail their production.
Mitsubishi buys stake and offtakes ammonia in Texas from ExxonMobil
The Japanese trading house Mitsubishi announced on Friday that it had reached an agreement in principle to purchase a stake and take delivery of low-carbon ammonia produced by ExxonMobil at its hydrogen plant in Texas. As part of its decarbonisation campaign, Japan aims to increase the use of ammonia and hydrogen in power plants and for other uses, such as steel and automobiles. Mitsubishi stated that ExxonMobil was expecting to produce up 1 billion cubic feet per day (bcf), which would be about 98% CO2 removed.