Tuesday, 06 June 2023 10:09

Japan earmarks $107 billion for developing hydrogen energy to cut emissions

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The Japanese government has adopted a revised plan to use more hydrogen as fuel to reduce carbon emissions. It set an ambitious goal of increasing annual supply sixfold and pledged 15 trillion yen in funding. The plan prioritizes nine strategic areas, including the development of water electrolysis equipment, fuel batteries and large tank trucks for transporting hydrogen. Japanese leaders aim to transform the country into a "hydrogen society" by promoting the commercial use of pure hydrogen and ammonia. Japanese Prime Minister Fumio Kishida has set an ambitious goal to encourage long-term investment in developing large-scale hydrogen supply and demand. Economic sanctions against Russia have intensified competition for LNG, necessitating a long-term strategy to ensure a stable energy supply.

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