Iwatani Corporation of Japan and Cosmo Energy Holdings have made a final investment decision on the joint development of a hydrogen supply network at the Chiba Refinery, aiming to commence operations in 2030. Total investment will amount to approximately ¥5 billion.
Iwatani Corporation and Cosmo Energy Holdings, both Japanese companies, have made a final investment decision (FID) on a project to integrate the hydrogen supply network based at the Chiba Refinery. The project is scheduled to commence operations in 2030, with total investment amounting to approximately ¥5 billion.
The project aims to integrate hydrogen production, liquefaction and transportation to support refinery operations at the site and strengthen Japan's domestic hydrogen supply network. It is expected to improve the stability of hydrogen supplies and support the country's transition to a low-carbon economy.
Cosmo Energy Holdings will refurbish the previously idle hydrogen production facilities at the Chiba Refinery and plans to invest approximately ¥20 billion in facilities capable of producing approximately 80 tonnes of hydrogen per day. Iwatani Corporation will build liquefied hydrogen facilities and establish a system to liquefy approximately 11.6 tonnes per day and supply it within Japan.
Cosmo Iwatani Hydrogen Engineering, established in 2023, will lead construction, procurement and engineering for the project, which is viewed as the implementation of the companies' initiative following their capital and business alliance agreement in April 2024. Iwatani is a major shareholder of Cosmo, and the companies aim to improve the competitiveness of Japan's domestic hydrogen market.