JERA concluded a JCA with LFC to realize low carbon fuel value chains
JERA Co., Inc (“JERA”) says it has concluded a Joint Collaboration Agreement with Lotte Fine Chemical Co., Ltd. (“LFC”), to realize low carbon fuel value chains. Under the agreement, JERA and LFC will jointly collaborate to accelerate the development of a robust and resilient value chain of low carbon fuel through the following approaches:
・Standardization of commercial frameworks
・Optimization of each party’s ammonia portfolio by enhancing operational flexibility through joint studies
・Joint efforts to discuss with both governments to establish and expand low carbon fuel value chain
To guide this effort, the government of Japan and the Republic of Korea (“ROK”) have launched “Japan-ROK Hydrogen and Its Derivatives such as Ammonia Cooperation Dialogue”, a programme designed to enhance collaboration across several key areas.
JERA will continue to take the lead in strengthening and diversifying low carbon fuel value chains regionally, nationally and internationally, and contribute to global decarbonization and to solving energy issues, particularly in Asia.
About LFC
LOTTE Fine Chemical Co., Ltd. is a global specialty chemical company which mainly manufactures ammonia relatives, chlorine relatives and cellulose ether products. The company was incorporated in 1964 and is headquartered in Ulsan, South Korea. The company is the world 3rd largest buyer of ammonia. Based on its over half-century experience and the largest infrastructure of ammonia distribution in Asia, it strives to accelerate an energy transition to hydrogen economy.
About JERA Co., Inc.
Established in 2015, JERA is an equal joint venture of two major Japanese electric power companies, TEPCO Fuel & Power Incorporated and Chubu Electric Power Company and produces about 30% of all electricity in Japan. JERA is an energy company with global reach that has strength in the entire energy supply chain, from participation in LNG upstream projects and fuel procurement, through fuel transportation to power generation. JERA, which stands for Japan’s Energy for a New Era, will take on the challenge of achieving zero CO2 emissions from its domestic and overseas businesses by 2050 and is supporting an energy transition in an environmentally and socially responsible manner.