Page 12 - MEOG Week 45 2022

MEOG NEWS IN BRIEF MEOG

stage.” Saudi Arabia and Japan used to have a new initiatives in the field of hydrogen and He noted that Jogmec support would
partnership in oil production in Saudi Arabia ammonia production and storage, as well as always be specifically for Japanese businesses.
through a Japanese company called Arabian R&D and carbon capture and storage (CCS) “Strictly speaking I don’t believe the Middle
Oil Co., but the contract was not renewed in and carbon capture, utilization and storage East countries have much need when it comes
2000. (CCUS). to funding but they need technology and
“Since the relations with Saudi Arabia “Saudi Arabia and the UAE as well as other innovation,” Hosono said. “We mainly provide
are so important for us we didn’t want the Middle Eastern countries are now motivated support to Japanese business so they can make
relationship to be just a relationship between to maintain fossil fuel production but at contributions to companies like ADNOC
buyer and seller,” Hosono said. the same time they are making inroads into through our support.”
“We have long considered ways to new areas such as renewables, hydrogen and Asked if Japan expects to get hydrogen
establish a relationship that is going into new ammonia,” Hosono said. “Our interests are or ammonia in return, he said: “That’s not
dimensions as opposed to just a buyer and now closely aligned with Saudi Arabia. This everything, but I would say that is part of the
seller relationship.” kind of situation, I would say, is serving as a clearest outcome through our efforts, and it
Jogmec itself is moving in a new direction, kind of springboard.” could contribute to the energy security in the
changing its name to Japan Organization for Japan can provide funding support and area.”
Metals and Energy Security as of Nov. 14. innovation and technical support, he said. S&P PLATTS
It has new objectives from the government, “In that sense, we are attracted to the Middle
and has decided to expand and promote East,” he said.

P12 www. NEWSBASE .com Week 45 09•November•2022