JOGMEC Conclusion of comprehensive cooperation agreement (MOC) with Saudi Aramco

Comprehensive Cooperation Agreement (MOC) signed with Saudi Aramco -Collaboration in project support, technology development, human resource development, etc. related to the production and storage of hydrogen and fuel ammonia-

JOGMEC (Headquarters: Minato-ku, Tokyo; Chairman: Tetsuhiro Hosono) has agreed with Saudi Aramco, a Saudi state-owned company (hereafter referred to as “Aramco”; President and CEO: Amin H. Nasser), to establish a carbon-neutral future. Targeting hydrogen and fuel ammonia, which are expected to be low-carbon energy, we agreed to collaborate on project support, technology development, and human resource development related to production and storage. A Memorandum of Cooperation (hereinafter referred to as “MOC”) was signed.  JOGMEC will further strengthen its relationship with Aramco for the stable supply of energy to Japan through these activities stipulated in the MOC.
Scene from the conclusion of the MOC  From the left, Chairman Hosono (JOGMEC), Senior Vice President of Alqatani Downstream Division (Saudi Aramco)
Through this MOC, JOGMEC will formulate specific projects and supply risk money to Saudi Arabia for the production and storage of hydrogen, ammonia, etc., which is a new area of ​​support based on the revised JOGMEC law promulgated on May 20, 2022. We aim to be proactive in In addition, we plan to set up a forum for exchanging opinions to discuss various issues for the realization of individual projects, based on the guidelines for CCS (carbon dioxide capture and storage) and calculation of greenhouse gas emissions published by JOGMEC. In addition, we will promote comprehensive cooperation with Aramco, including technology development to reduce environmental impact and human resource development efforts to achieve carbon neutrality. The conclusion of this MOC is the first time that we have established a continuous cooperative relationship in the energy development field with Aramco, including the Japan National Oil Corporation, the predecessor of JOGMEC. , which tackles the common issue of low carbonization and decarbonization head-on.
Saudi Arabia, which is expected to become a major producer of not only crude oil and natural gas, but also hydrogen and fuel ammonia, and Japan, which is expected to be a major consumer, will cooperate through the conclusion of this MOC. is expected to become a strong driving force for the establishment of the market for hydrogen and fuel ammonia.
As in this MOC, JOGMEC is considering utilizing the relationships it has built with oil- and gas-producing countries. We will actively support projects related to CCS, which are indispensable for decarbonization.
■ Reference
JOGMEC functional enhancement and name change due to legal revision (May 20, 2022)
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