ENEOS, Aramco, and Idemitsu Kosan to Collaborate on Synthetic Fuels
ENEOS Corporation has announced that it has signed a Memorandum of Understanding on collaboration in synthetic fuels with Aramco and Idemitsu Kosan Co., Ltd.
The MoU was signed by the three companies in the presence of representatives of the governments of Japan and Saudi Arabia.
ENEOS’ long-term vision is to achieve both a stable supply of energy and materials and the realization of a carbon-neutral society. ENEOS is working to develop businesses for carbon-neutral fuels such as synthetic fuels to lead the energy transition and continue to support energy supply in Japan in a carbon-neutral society.
Synthetic fuels are low-carbon fuels that can reduce CO2 emissions throughout their product lifecycle because they are made from renewable hydrogen and captured CO2. Synthetic fuels, which are liquid fuels, can contribute to the energy transition in a wide range of areas and industries since it enables the use of existing infrastructure. Japan imports more than one-third of its annual crude oil consumption from Saudi Arabia. ENEOS will continue to strengthen its relationship with Aramco and explore the possibility of expanding collaboration in next generation fuels to realize a carbon-neutral society.