The goal of our energy business is to realize a decarbonized society and build a balanced portfolio from upstream to downstream thereby ensuring a stable energy supply.
In the upstream sector, we are participating in projects in Azerbaijan, Russia (Sakhalin, East Siberia), Iraq, Qatar and Oman. We are actively working to reduce greenhouse gas emissions through such measures as CCS (carbon capture and storage) while contributing to Japan’s energy security by maintaining and developing our key interests through acquisitions and asset replacements.
In the downstream sector, our energy trading business operates primarily in Tokyo, Singapore, and London. In Asia, where energy demand is expected to grow, we are promoting wholesale and distribution businesses in India, the Philippines, and other countries. ITOCHU Group works as one unit to build a value chain that covers the supply of LPG, an efficient and reliable portable energy source, and LNG, which contributes to the development of industry, in order to improve quality of life and deliver a stable supply of energy to the world.
To reduce greenhouse gas emissions and utilize renewable energy, our newest next-generation fuel business supplies renewable fuel made from waste cooking oil and other materials that do not compete with food products. We are also developing several hydrogen and ammonia projects which emit zero carbon dioxide from combustion.