Russian Energy Minister Alexander Novak and Japanese Minister of Economy, Trade and Industry Hiroshi Kajiyama, as co-chairs of the Russian-Japanese Energy Advisory Council, discussed topical issues of bilateral cooperation in the energy sector via videoconference, the Russian Ministry said.
“For 6 months of 2020, oil exports amounted to 3.39 million tons, an increase of 0.53 million tons compared to the same period in 2019, and coal exports for the same period of this year increased by 0.63 million tons, to 9. 76 million tons. Supplies of oil products, liquefied natural gas (LNG) are also kept at a high level, “the Russian minister said.
In addition, Novak stressed the high rates of development of relations between the two countries in the production and supply of LNG. Progress was noted in the implementation of the Arctic LNG-2 project, in which leading Japanese companies are actively participating. “A number of Japanese companies are showing great interest in developing cooperation in this area, investing in new highly profitable and important projects for the Russian economy,” he said.
The successful development of cooperation between the two countries in the atomic sphere, as well as in renewable energy sources continues. Interaction in the field of hydrogen energy was highlighted as a promising area of bilateral cooperation during the talks.
Japan, the world's largest importer of LNG, adopted a hydrogen strategy in 2017 that aims to achieve cost parity with competing fuels.
The Japanese government is conducting research to support low-cost hydrogen production with zero greenhouse gas emissions, expanding the infrastructure for importing and transporting hydrogen across Japan, and increasing the use of hydrogen in various fields such as transportation, cogeneration of heat and electricity, and power generation.
Gazprom (MCX: GAZP) and NOVATEK (MCX: NVTK) have announced that they are studying the prospects for the use and production of hydrogen.