JERA, the largest power generation company in Japan, producing about 30% of the nation’s electricity, has opened an office in the city of Akita as a base for offshore wind projects off the coast of Akita Prefecture.
Australia’s Santos has awarded the biggest contract tied to its $3.6 billion Barossa liquefied natural gas (LNG) project in northern Australia that will backfill Darwin LNG. This offers a strong signal that a final approval for the scheme is imminent.
Malaysian national oil company (NOC) Petronas and JERA - a joint fuel-procurement venture between Japan's Tokyo Electric Power and Chubu Electric Power – have signed a memorandum of understanding that will see the pair collaborate on a wide range of low-carbon energy initiatives, covering liquefied natural gas (LNG), ammonia and hydrogen.
Santos has approved US$235 million worth of investment for an infill drilling campaign that will extend the life of the Bayu-Undan field offshore East Timor. As a result, the Santos-led Darwin LNG export plant, which is fed by the aging field, will not need to be shut down while new supplies of gas are developed.
The Santos-led Barossa LNG export project is on track for a final investment decision (FID) within six months after drastically cutting costs and securing a major Japanese buyer for some of Australia’s dirtiest LNG.
Equinor has teamed up with two of Japan’s leading energy firms as it looks to make inroads into the East Asian country’s expanding renewables sector.
Japan’s largest utility company and a French state-owed investment firm have joined forces with floating wind firm Ideol to create a vehicle for financing 2 gigawatts of green power projects.
Equinor and Orsted will lead a new group formed to tackle climate change by accelerating the deployment of offshore renewable energy technology.
Southeast Asia and Australia are set to take centre stage in the region’s upstream M&A activity as private equity companies sense a value opportunity.