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.
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.
Minister says Canada's Alberta is looking to Japan for new LNG contracts amid US tariff threats
Rebecca Schulz is the minister for environment and protected areas in Canada's Alberta, which is a major producer of gas. She said that expanding into Japan was an important goal in light of a U.S. Tariff threat.
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…
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.
Tariffs on copper and aluminium by Trump could increase costs for U.S. customers
Analysts and industry participants stated on Tuesday that President Donald Trump's promise to impose tariffs on U.S. imports of copper and aluminum would lead to higher prices for local consumers due a lack…
Six US LNG cargoes diverted to Europe by LNG traders
Analysts and shipping data indicate that traders diverted six cargoes of LNG bound for Asia into Europe in the first half of this month due to higher European prices, and weaker Asian demand. Weather forecasts…
MUFG Americas CEO: AI data centres will boost renewable energy demand, even under Trump
Mitsubishi UFJ Financial Group, the largest Japanese banking group, has said that the U.S.'s shift to renewable energy will continue under Donald Trump. Kevin Cronin, chief executive officer of MUFG Americas…
Peru's No. Adolfo Heeren is named new CEO of Antamina, Peru's No.
Antamina is the second largest copper mine in Peru. It announced on Thursday that Adolfo Héren was appointed as its new CEO and General Manager. Heeren will take over the role of CEO for Anglo American Peru on February 1, 2025.
As tensions in the Middle East increase, demand worries are offset.
The oil prices rose on Monday, as the heightened tensions that followed the rebels' overthrow in Syria of President Bashar al Assad offset concerns about the weak Chinese demand highlighted by Saudi Aramco’s price reductions to Asian buyers.
LNG traders divert cargoes to Asia from Europe as demand in the east increases
Analysts and shipping data indicate that three LNG cargoes bound for Europe were diverted to Asia in order to meet the stronger Asian demand, and because gas prices have decreased in Europe. The rapid change…
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.
Mitsubishi Japan expects LNG production to reach 17 million tonnes per year by early 2030
Mitsubishi, a Japanese trading company, expects to see its LNG production capacity grow by over 17 million tonnes per year in the early 2030s. This is due to its stakes including projects in Malaysia and Canada.
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…
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.
Ifx: Japan is the top buyer of LNG from Sakhalin 2 in Russia
Interfax reported that a senior manager of the Sakhalin 2 plant in Russia said on Thursday that Japan was currently the largest importer of LNG from Russia, accounting for 57.5% its exports. Since the beginning of Russia's conflict with Ukraine…
Siemens Energy settles with US over gas turbine contract dispute
Siemens Energy said it had agreed to pay $104m to settle with U.S. Authorities after using stolen trade secrets five years ago to inflate its bids on contracts. The proposed settlement between a U.S. Court…
Mitsubishi increases stake in Malaysia LNG
The Japanese trading house Mitsubishi announced on Friday that it will expand its ownership of a major project in Malaysia involving liquefied gas. It has acquired 10% stakes in both the Dua and Tiga unit of the Malaysia LNG Plant.
Survival of the fittest: petrochemical manufacturers battle global glut
The survival mode of petrochemical producers is on in Europe and Asia. Years of capacity building in China, the top market for petrochemicals, and high energy prices in Europe have pushed margins down two years in a row.
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.
