Japanese Government Initiative to Support Hydrogen Projects in Southeast Asia
Key Ideas
- Japanese government to assist in raising funds for hydrogen projects in Southeast Asia through domestic funds.
- Creation of a ¥150 billion fund by the Japan Hydrogen Association and an investment fund to stimulate private-sector investments in hydrogen-related projects.
- Focus on projects like power generation, liquefaction technology, and transportation facilities using hydrogen to reduce carbon emissions.
- Participation in the Indo-Pacific Economic Framework for Prosperity to promote a clean economy and strengthen the rule of law.
The Japanese government is set to announce support for hydrogen-related projects in Southeast Asia at a ministerial meeting in Singapore. Acting as an intermediary, Japan plans to facilitate funding from domestic sources towards projects such as power generation, fuel liquefaction, and transportation facilities utilizing hydrogen. The creation of a ¥150 billion fund by the Japan Hydrogen Association and an investment fund is aimed at encouraging private-sector investments in hydrogen technologies. Japan aims to leverage hydrogen as an alternative fuel for thermal power generation and city gas, emphasizing the need to strengthen the supply network and technological development. The initiative falls under the Indo-Pacific Economic Framework for Prosperity, a multilateral economic initiative involving countries like the United States, Japan, and South Korea, focusing on promoting a clean economy and anti-corruption measures. Despite progress, ongoing trade negotiations indicate a longer path to agreement.