JERA Co., Inc. has entered into a Joint Collaboration Agreement with Lotte Fine Chemical Co., Ltd. (LFC) to develop low carbon fuel value chains.
This partnership aims to strengthen and optimize the ammonia portfolios of both companies, standardize commercial frameworks, and engage in discussions with the Japanese and South Korean governments to expand the low carbon fuel supply chain.
The collaboration is supported by the “Japan-ROK Hydrogen and Its Derivatives such as Ammonia Cooperation Dialogue,” a bilateral initiative to enhance cooperation in clean energy. Officials from both countries have highlighted the significance of this agreement in advancing the global hydrogen economy and strengthening energy security.
Both JERA and LFC see this partnership as a crucial step in leading the energy transition in Asia, with JERA focusing on decarbonization across multiple sectors, and LFC aiming to enhance Korea’s competitiveness through its established ammonia supply chain infrastructure.
To remind, in May 2024, JERA, announced its intention to allocate 5 trillion yen (equivalent to $32.4 billion) in investments over the next decade towards renewable energy sources, alongside emerging fuels like hydrogen and ammonia, in addition to liquefied natural gas (LNG).
