Japan's JERA receives government subsidy on US ammonia imports
JERA, Japan's largest power generator, has received a 15-year government subsidy to cover the?difference between coal and ammonia prices. It aims to import ammonia to its planned U.S. The government has agreed to provide a subsidy for 15 years, covering the?difference between ammonia and coal prices. JERA aims to import ammonia from its planned?U.S. plant in 2029. JERA, CF Industries, and Mitsui Trading formed a joint-venture in April to build the Blue Point Project…
Japan's JX claims its Pan Pacific Copper division sold stake in Peruvian mining to Glencore
JX Advanced Metals, a Japanese company, announced on Tuesday that its Pan Pacific Copper (PPC), unit had sold its entire stake to Swiss miner and trader Glencore in the Quechua copper project in Peru. The price was not disclosed. JX is reorienting its portfolio away from mining and towards its advanced materials operations. PPC has conducted several feasibility studies on the Quechua Project since 2007, but did not proceed to the development phase because it prioritized the Caserones Copper Mine in Chile.
Japan's JX claims its Pan Pacific Copper division sold stake in Peruvian mining to Glencore
JX Advanced Metals, a Japanese company, said on Tuesday that its Pan Pacific Copper unit (PPC)?sold to Glencore its entire stake in a?copper?project in Peru for an undisclosed amount. Its portfolio towards its advanced materials business, and away from more volatile mining operations. PPC has conducted multiple feasibility studies to determine the economic viability of the Quechua Project since 2007. However,…
Australia's Waitsia Project begins sending gas to LNG export
Beach Energy, an Australian company, announced on Monday that the Waitsia onshore project located north of Perth has begun sending natural gas to Woodside Energy's liquidified natural gas export facility. Mitsui, a Japanese company, operates the Waitsia Project and shares it with Beach. Mitsui and Beach have signed a contract with the North West Shelf partners Woodside, BP Shell and Japan LNG for the supply of the facility in 2020.
Venture Global and Tokyo Gas Sign 20-year LNG Supply Deal
Venture Global, a U.S. LNG exporter, has signed a deal for Tokyo Gas to receive 1 million metric tonnes per year (mtpa), starting in 2030. Venture Global has now signed its fourth long-term LNG contract with a Japanese firm. The U.S.-based company announced in a Wednesday statement that it had signed LNG long-term contracts totaling 7.75 mtpa over the past six months. This move shows that Japan is increasing its energy purchases from the United States, while President Donald Trump pushes for increased U.S.
Venture Global and Tokyo Gas Sign 20-year LNG Supply Deal
Venture Global announced on Tuesday that it had signed a 20 year sales and purchase agreement (or SPA) with Tokyo Gas, the gas supplier for Japan's capital, Tokyo Gas. The agreement will see Tokyo Gas supply 1 million metric tons of liquefied gas per annum, beginning in 2030. Venture Global said that this is the fourth long-term agreement it has signed with a Japanese firm. The U.S. LNG Exporter also announced in a press release that in the past six months…
Eneos, a Japanese company, warns of rising costs in developing offshore wind businesses
Eneos Holdings - Japan's largest oil refiner that has expanded into renewable energy - warned on Wednesday of the rising cost of developing their offshore wind project. Their CEO said returns were difficult. Eneos' Japan Renewable Energy unit won the government auction in March 2024 to develop a 375 megawatt offshore wind farm in northern Akita Prefecture, Japan, with Spain's Iberdrola, and Tohoku Electric Power Co. Construction will begin in 2020, and operations are expected to begin in 2029.
Nikkei reports that Japan's PM has rejected the US request to ban Russian imports of energy
The Nikkei daily, citing Japanese officials, reported that the Japanese Prime Minister Sanae Takaichi had told U.S. president Donald Trump during their meeting on Wednesday in Tokyo that it would be difficult to ban Russian LNG imports. Sakhalin-2 is a project in which Japanese companies Mitsui & Mitsubishi have stakes. Before Trump's Asia visit this week, the U.S. encouraged buyers of Russian oil, including Japan to stop imports and put sanctions on Moscow’s two largest oil exporters…
Honda Motors acquires a stake in India's OMC Power for the development of clean energy batteries
Honda Motor, a Japanese automaker, has acquired an equity stake in India's OMC Power. The company is backed by Mitsui & Co. and Chubu Electric Power. Honda did not disclose the exact size of its equity stake in India's clean energy sector. This will be Honda's debut foray. Distributed energy systems can power smaller sites or areas at a lower scale. They can be connected to the grid or disconnected from it. OMC Power has more than 500 renewable power plants in North and Central India.
TotalEnergies says the Mozambique Liquefied Natural Gas project cost has risen to $4.5 billion
TotalEnergies told Mozambique in a letter that costs for its LNG project had risen $4.5 billion over the past four years. It also wants to extend its production agreement by 10 years. The French oil giant confirmed Saturday that it, along with its partners, had decided to lift the force majeure for this project. It was stopped in 2021 due to an islamist militant attack. Before construction can resume, Mozambique’s Council of Ministers must approve an updated budget.
TotalEnergies, in partnership with partners, lifts force majeure on the $20 billion Mozambique Liquefied Natural Gas project
TotalEnergies, a French oil company, announced that it had lifted the force majeure for its $20 billion Mozambique Gas project with project partners. This comes four years after a militant Islamist attack halted construction. TotalEnergies' press officer confirmed that a letter was sent on Friday to the Mozambican Government. However, the company stated that the project will only be relaunched after the government has approved a revised budget and schedule.
Australia's renewables drive powers a 'golden rush' of big battery bets
Investors in Australia’s battery energy storage industry are taking advantage of the chaos on the spot markets. They have been emboldened by Australia’s efforts to expand its renewable energy infrastructure. Investors in the sector are now funding projects that do not have a fully-guaranteed long-term revenue. The first two battery projects exposed to the market this year were funded. As the demand for renewable energy grows, analysts say that more flexible financing will make money available in this sector.
Oil India expects to restart the Mozambique Liquefied Natural Gas project within a year
India's state-run Oil India Ltd expects a $20-billion, TotalEnergies-operated Mozambique liquefied natural gas project in which it owns a stake to restart development by the end of this year, its chairman Ranjit Rath said on Thursday. TotalEnergies suspended construction and declared force majeure on the project in 2021 after a deadly insurgent attack at the site. Rath, at the annual shareholders meeting, said that with improved security conditions the project should restart in the second quarter of 2025.
Anglo-Teck's merger with Glencore will unlock Chile mine synergies if Glencore approves
Analysts say that the proposed Anglo American and Teck merger could be hampered by Glencore, a Swiss miner-trader. Glencore and London-listed Anglo are equal partners at Collahuasi. This is one of the largest copper deposits in the world, located about 10 kilometers from Teck's flagship Quebrada Blanca Mine. Investors view the merging of operations at both sites as the key to the AngloTeck merger. This is one…
Gunvor expands its precious metals trading into physical trading
Gunvor, a global commodity trading company, has announced that it is expanding its precious-metals business beyond trading derivatives to include physical metal. The company also revealed that it has hired experts in London and Singapore's trading hubs. Gunvor's growth in this sector coincides with an upswing that has seen the gold price double since late 2022, as investors sought refuge from geopolitical and economic turmoil. On Tuesday, spot gold reached a new record of $3674 per troy-ounce.
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.
Japanese trading companies are able to offset the impact of commodity price drops on their food businesses
The disclosures of Mitsui Marubeni Itochu and Mitsui showed that the higher profits in their diversified food business offset lower performances in their commodities unit. Warren Buffett’s Berkshire Hathaway took a minority stake in these companies because of the diversification away from traditional commodity trading. Mitsui's profits for the three-month period ended June 30 were down 31% compared to a year ago, partly due to lower iron ore prices.
TotalEnergies plan to restart LNG project is a positive for the energy minister of Mozambique
Mozambique’s energy minister stated on Friday that the government had not received a formal request from TotalEnergies for the lifting of a declaration of force majeure on the $20 billion liquefied gas (LNG), project in the country. However, he was optimistic about TotalEnergies' plan to restart its development during the summer. After meeting with Japan's Industry Minister, Muto Yoji, Estevao Palae, the Minister of Mineral Resources and Energy…
Japan returns to long term LNG deals on AI boom and national energy plan
The liquefied gas industry in Japan is once again in the spotlight, as artificial intelligence booms and rising costs of cleaner energy drive the appetite for long-term LNG contracts. Japan, which is the second largest LNG importer in the world, has secured long-term deals with Qatar, and other buyers are also securing such agreements. Japan's LNG exports have been falling for over a decade, as the nuclear power…
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.