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Promoting fossil fuel development and decarbonization to tackle climate change

Amid increasing geopolitical risks and escalating resource prices, the development of fossil fuels is still important for a stable energy supply, and decarbonization measures such as CCS are required more than ever for development of fossil fuels. We will strengthen the support to facilitate decarbonization efforts in oil and gas fields and coal development.

Financial support for upstream oil and natural gas development projects for decarbonization

We will consider further strengthening support for climate change response efforts accompanied by upstream oil and natural gas development projects, for example, by introducing new preferential treatment in addition to reducing the liability guarantee fee rates (0.2%) for these projects.

Current status:
We are surveying the needs of companies in order to further enhance support. 
Consideration of the further strengthening supports through all phases

Equity capital investment Scheme(Representative example)

【Equity capital investment Scheme】(Representative example)

Liability guarantee scheme(Representative Example)

Liability guarantee scheme(Representative Example)

On-site technical support for decarbonization initiatives in coal mine development and operation

Considering the importance of decarbonization in the entire process of utilizing coal resources from exploration to rehabilitation, we will offer technical development and on-site support by further strengthening cooperation with industry-academic-government and coal-producing countries. In addition, we conduct joint surveys to evaluate coal seam suitable for CO2 storage.

Current status:
We are conducting basic joint research with domestic research institutes and universities on the underground sequestration of CO2 in coal seams.

Implementation of surveys on biomass production, modification, and fuel conversion technologies

We will consider efficient and appropriate utilization of biomass in coal-fired power plants and the steel industry including by examination in actual equipment. We will also conduct surveys contributing to the reduction of GHG in coal mines, such as by afforestation of non-operational and abandoned coal mines with the grass plant which can be used in biomass-combustion, is highly efficient in land use, and grows rapidly.

Current status:
The following two joint studies are being conducted as part of the "Technical Support Project for Stable Supply of Coal Resources -FY2022- " (application deadline: November 30, 2022).
 - Study on the creation of a new business that contributes to GHG reduction by utilizing a mine planting project and its biomass
 - Study on the feasibility of producing biomass briuqette and blending it with coal, which will contribute to sustainable use of abandoned mine sites, etc. (Further information)

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