Japan’s Cosmo Energy eyes LNG power plant

The energy firm said in its business plan for fiscal 2035 that it is considering developing new power sources such as offshore wind power
and LNG-fired thermal power.

Cosmo Energy’s presentation posted on its website shows that its plans for the next decade include onshore and offshore wind power, solar power, and LNG-fired thermal power as it shifts to a power generation mix that includes “stable” power sources.

Discussing LNG-fired thermal power, Cosmo Energy said key points for optimizing power supply configuration include “refinery assets located in a waterfront industrial complex (utilization of repurposable oil facilities and expertise) and collaboration with synergy-creating partners.”

The key points include “energy sources that go beyond green electricity to include cost-efficient, low-carbon, and decarbonized fuels.”

Cosmo Energy said it aims to invest 800 billion yen ($4.96 billion) into growth over the next decade.

This entails 200 billion yen ($1.24 billion) in the electricity supply chain, which includes LNG-fired thermal power and renewable energy.

As part of its plans to optimize its power mix, the company aims to reach 2,000 MW of power capacity by fiscal 2035, including LNG power, according to the presentation.

Cosmo Energy did not provide further details regarding LNG-fired power plants.

China and Japan are the world’s largest LNG importers.

During January-May, Japan’s LNG terminals received approximately 26.15 million tonnes of LNG, up from 22.76 million tonnes received by Chinese terminals during the period.