Japan's Inpex to buy into liquefied hydrogen supply chain company

Kawasaki Heavy Industries

31/10/2023 04:15

TOKYO, Oct 31 (Reuters) - Japan's top oil and gas
producer Inpex  1605.T  said on Tuesday it would buy a 30% stake
in Japan Suiso Energy (JSE) in a bid to expand its clean energy
usage and cut back on fossil fuels.
    JSE focuses on large-scale hydrogen liquefaction and
transportation technology. Inpex said it had agreed to buy the
stake for an undisclosed amount from Kawasaki Heavy Industries
 7012.T . 
    After the deal, Kawasaki will hold a 36.6% stake and Iwatani
Corp  8088.T  will own the remaining 33.4% stake, Inpex added.  
    Hydrogen and its derivative ammonia are important elements
in Japan's strategy to be carbon-neutral by 2050, and the
country wants to boost hydrogen supply to 20 million metric tons
annually by then, including via international supply chains.

 (Reporting by Katya Golubkova; editing by Miral Fahmy)
 ((ekaterina.golubkova@thomsonreuters.com;))