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Tuesday
19 Mar 2024

Mitsubishi, 7 Others to Form Coalition to Promote Electric Natural Gas

19 Mar 2024  by reuters   

The logo of Mitsubishi Corp is pictured at its head office in Tokyo, Japan August 2, 2017. REUTERS/Kim Kyung-Hoon/File Photo Purchase Licensing Rights
Mitsubishi Corp (8058.T), opens new tab said on Tuesday it will form an international coalition with seven other firms including TotalEnergies (TTEF.PA), opens new tab and Tokyo Gas (9531.T), opens new tab to support development and production of electric natural gas (e-NG).

e-NG is a synthetic gas produced from renewable hydrogen and carbon dioxide (CO2) and can be transported and stored utilizing existing infrastructures, Mitsubishi said in a statement, adding that the companies believe e-NG has a role to play to accelerate the energy transition towards a net-zero carbon future.

With an aim to contribute to a fight against climate change, Mitsubishi and its partners plan to accelerate the development of e-NG in a reliable, affordable and sustainable way, the Japanese trading house said.

Mitsubishi's other partners are France's Engie (ENGIE.PA), opens new tab, U.S.-based Sempra Infrastructure, Belgium's TES, and Japan's Osaka Gas (9532.T), opens new tab and Toho Gas (9533.T), opens new tab. They plan to create the group, called "e-NG Coalition", in the first half of the year.

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