Japan NEWS

The Japanese government has not yet received word that a new Russian company set to operate the oil and gas Sakhalin-2 project has been established, industry minister Koichi Hagiuda said on Tuesday. "We will decide on our next steps once the terms of getting involved in the new company are made clear," he added.

Japan's industry minister Koichi Hagiuda said on Tuesday he will again ask the United States and Australia to boost output of liquefied natural gas (LNG) and ensure a stable supply to the country when he meets his counterparts in Sydney later this week. "I will once again firmly request the United States, a major global LNG producer, and Australia, the largest LNG supplier to Japan, to step up production and ensure a stable supply of the fuel as the global LNG market is tightening in the wake of Russia's invasion of Ukraine," Hagiuda told a news conference.

OSAKA, Japan, June 26, 2022 (GLOBE NEWSWIRE) -- The Global Energy Harvesting System Market size is estimated to grow at a CAGR of 10.5% over the forecast period and reach a market size of USD 1,183 million by 2030. Over the last decade, the research and development community has grown increasingly interested in harvesting energy from non-conventional environmental sources for low-power applications. Despite the small amount of energy harvested, it is suitable for wireless sensor nodes and other low-power applications. There is a lot of wasted energy in the environment that can be converted into energy to power various applications, revealing a potentially inexpensive power source. However, energy harvesting systems are important as they provide a backup and alternative source of power for electrical equipment in areas where conventional sources are prohibitively expensive. When used in conjunction with wireless sensor nodes and IoT devices, this system eliminates cables and batteries, lowers maintenance costs, eliminates the need for network-based energy and traditional batteries, and is environmentally friendly. It has the same advantage in remote areas, underwater, and other difficult-to-reach locations where conventional batteries and electricity are insufficient. As a result of these factors, there seems to be a significant focus on energy harvesting systems throughout all market segments.

The G7 nations committed to the move "in a timely and orderly fashion" at an online meeting on Sunday to put further pressure on President Vladimir Putin,

Japan plans to step up its investment role in upstream projects for liquefied natural gas (LNG), to spur new development and boost fuel offtake by its companies, the industry minister said on Friday.

Tie-up will also see UK oil major will establish a local offshore wind development team in Tokyo

The most-active Brent contract, for April delivery, was trading at $89.69, up $1.17 or 1.3 per cent

Most Asian stocks dipped Wednesday after a technology selloff weighed on U.S. equities and as investors assessed the omicron virus-strain outbreak. Shares slipped in Japan, technology stocks retreated in Hong Kong and China edged down. U.S. futures fluctuated after the S&P 500 and the Nasdaq 100 weakened Tuesday, snapping four sessions of gains. Volumes remained thin into the end of the year in some markets. Sentiment in China is being sapped by Beijing’s tightening oversight of overseas share sales and economic risks from a property slowdown. Authorities are expected to add stimulus next year to steady expansion. Treasury yields fell and a dollar gauge inched higher. Crude oil held around a one-month high partly on bets that the global recovery will ride out omicron. Bitcoin was around $48,000 after a tumble that hinted at diminished ardor for the most speculative assets.

(Bloomberg) -- Japan is offering oil from its national reserves as other nations kick off a coordinated release from strategic stockpiles to rein in prices. A government tender offered Oman crude from the strategic reserves in Shibushi for delivery between March and June, the trade ministry said in a statement dated Dec. 27. The tender didn’t specify a volume, give a reason for the sale, or confirm it was part of a U.S.-led initiative. The Biden administration started tapping the first of its pledged 50 million barrels of reserves not long after announcing the coordinated release in late November. South Korea said last week that it will start releasing crude and oil products from its strategic reserves next month, although other countries named as part of the plan -- including China and India -- have yet to act. Trade Minister Koichi Hagiuda said in November that Japan would conduct the release as it replaces oil in its stockpiles. While it does that regularly, the schedule has been moved up to support similar actions elsewhere, he added.

TOKYO, Dec 3 (Reuters) - Japan's plan to release oil from strategic reserves in coordination with the United States and other consuming countries remains unchanged despite the recent drop in oil prices, industry minister Koichi Hagiuda said on Friday. Global oil prices have lost more than $10 a barrel since last Thursday when news of the Omicron coronavirus variant first shook investors.

Japan is considering the unprecedented release of state oil reserves after a request from Washington for coordinated action to combat soaring energy prices, three government sources with knowledge of the possible plan told Reuters. One of the sources said the government was looking into releasing from the portion exceeding the minimum amount required as a legal workaround. Japanese law permits the release of oil reserves in cases of a shortage or natural disasters but makes no mention of doing so to counter rising prices.

Resource-poor Japan, a major importer of crude oil and natural gas, is increasingly concerned that the rally in oil prices would slow the global economic recovery, a senior government official told the head of the International Energy Agency (IEA) this week. Hikariko Ono, Director General of Economic Affairs Bureau at the Ministry of Foreign Affairs of Japan, “expressed concern over the rapid surge in crude oil prices, which could hamper the global economic recovery from COVID-19,” Japan’s foreign ministry said in a statement after a video conference between Ono and the IEA’s Executive Director Fatih Birol.

BVG Associates (BVGA) has signed a memorandum of understanding (MoU) with Mitsubishi Research Institute (MRI) to strengthen cooperation in consulting services in offshore wind in Japan and for Japanese clients globally. The MoU follows successful collaboration on a number of Japanese projects, the duo said. It includes the development and operation of projects, support for offshore wind auctions, strategic advice on market entry, business expansion and supply chain and technology development.

TOKYO: Oil prices fell on Monday amid mounting concerns that surging caseloads of coronavirus infections in India and other countries will lead to stronger measures and hit economic activity, along with demand for commodities such as crude.Brent crude was down 43 cents, or 0.6%, at $66.34 a barrel by 0139 GMT, after rising 6% last week. U.S. oil was down 42 cents, or 0.7%, at $62.71 a barrel, having gained 6.4% last week.

GreenFire Energy Inc. and the Mitsui Oil Exploration Co., Ltd. (MOECO) have announced that they have entered an agreement for GreenFire Energy to design and assist MOECO in performing a demonstration and testing of one of GreenFire Energy’s closed-loop geothermal solutions at a geothermal resource in Japan. The company has been focused on geothermal energy as an important potential source of renewable energy in Japan and other areas.

JGC HOLDINGS CORPORATION (Representative Director, Chairman and CEO Masayuki Sato) have announced that JGC JAPAN CORPORATION (Representative Director and President Shoji Yamada), which operates the domestic EPC business of the JGC Group, has been awarded an order for the design, procurement and construction of a biomass power generation plant project in Miyagino Ward, Sendai City, Miyagi Prefecture, Japan.

Ricoh Company, Ltd., has raised its renewable electricity target to 50% by FY2030, up from the previous target of 30%. The Group has also set an interim target of 30% by March 2023, accelerating its renewable electricity transition by eight years. In conjunction with the start of its 20th Mid-Term Management Plan, which runs for two years from April 2021.

Abu Dhabi awarded Japan’s Cosmo Energy Holdings Co. the right to explore for offshore oil and natural gas as the Middle Eastern emirate seeks to expand its output capacity. Cosmo will invest as much as $145 million in the exploration phase at Offshore Block 4, government-owned Abu Dhabi National Oil Co.