JAPEX’s Initiatives for a Low-Carbon Society

Abstract

Japan Petroleum Exploration Co., Ltd.（JAPEX）is developing renewable energy and new technologies utilizing its E&P（Exploration and Production）experience to contribute to the goal of zero emissions and carbon-neutral society by 2050. We are also working on creating new environmentally friendly businesses in areas around the existing business domains. JAPEX’s mission is to provide a stable supply of energy, and to complement its longstanding core business of E&P and supply of oil and natural gas. On top of this, it is working to transform its business structure to grow as a "comprehensive energy company" in light of worldwide calls for a decarbonized society. To date, JAPEX has participated in demonstration tests aimed at the practical application of carbon dioxide（CO₂）capture and storage technologies, strengthened its renewable energy business organization. On 13th May 2021, JAPEX announced that it has formulated "JAPEX2050: Toward a Carbon-Neutral Society"（hereinafter "JAPEX2050"）, which sets forth JAPEX’s direction as a comprehensive energy company in light of the government’s "Realizing Carbon-Neutral Society in 2050" initiative. JAPEX2050 provides a fresh outline of the responsibilities and challenges that JAPEX must take on in order to achieve the goal of net-zero CO₂ emissions by 2050 worldwide, and presents a clearer direction for JAPEX’s future actions and business development. By steadily implementing JAPEX2050, JAPEX will pursue new possibilities for the stable supply of energy in the carbon-neutral society, while aiming for further growth as a comprehensive energy company.