INSEAD Day 4 - 728x90

2PointZero reports strong H1

Expansion drives earnings, revenue growth.

Borouge profit climbs 23%

Prices, recovery boost quarterly earnings

e& posts 11.6% revenue growth

The H1 net profit hits $1.63 billion.

TECOM profit up 9%

Revenue, occupancy drive earnings higher

DAE H1 profit $229m

Growth triggered by higher earnings, stron cash flow

Japan sees Middle East as vital in creating hydrogen-based society

  • 'The large-scale and inexpensive hydrogen supply is indispensable'
  • Hydrogen and ammonia are attracting attention as new energy sources

Kajiyama Hiroshi, the economy, trade and Industry minister of Japan, said that Middle Eastern countries are important partners in creating a hydrogen-based society.

“The large-scale and inexpensive hydrogen supply is indispensable,” Kajiyama said at a press conference. “To achieve our goal, it is important to utilize not only domestic, but also overseas renewable energy resources and hydrogen produced from fossil fuels.”

In April, Japan and the UAE agreed to work on hydrogen cooperation and exchange information on hydrogen supply chain construction, the minister said.

He added: “We are also discussing [cooperation on hydrogen] with other Middle Eastern countries, and we would like to continue to cooperate to realize a hydrogen-based society.”

Hydrogen and ammonia are attracting attention as new energy sources. According to Kajiyama, “[Technological development of this source] must be carried out in three stages: manufacturing, transportation, and domestic utilization such as power generation and utilization as a power source for automobiles.”

“Japan started developing hydrogen ahead of the rest of the world, but other countries are beginning to follow suit,” the minister said. “Under these circumstances, we would like to cooperate closely with potential countries such as Saudi Arabia on how hydrogen production will be carried out.”