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51 min ago 2 min read
Japan’s Cosmo Energy Group and Iwatani have reached financial close on a JPY 50bn ($316m) hydrogen project at Cosmo’s oil refinery in Chiba, Japan.
The project will see the pair restore a steam methane reformer (SMR) on the site to produce 80 tonnes of grey hydrogen per day, while adding new liquefaction capacity.
Most of the hydrogen will be used by Cosmo for oil refining while around 11.6 tonnes per day will be processed by a new Iwatani liquefaction plant.
Iwatani will deliver the liquid hydrogen by tanker to customers in Japan.
Both systems are due online by 2030, with the SMR expected to cost JPY 20bn ($126.4m) in investment, alongside JPY 30bn ($190m) for the liquefaction facility.
All engineering, procurement, and construction will be carried out by a joint venture between the two companies to advance their hydrogen-focussed business plans.
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