Japan's Ministry of Economy, Trade and Industry (METI) announced that it is seeking to increase its budget for the country's energy transition by 15 percent to 490.2 billion yen ($4.6 billion) in the 2020-2022 fiscal year (April 2021 to March 2022), and said it would turn the decline in fuel demand caused by the epidemic into an opportunity to accelerate the transition. Japan's Ministry of Economy, Trade and Industry (METI) aims to lead the country out of a slump in domestic demand for fuel and achieve a green recovery by supporting innovation amid growing global pressure to decarbonise.
The ministry's energy transition budget for the 2021-2022 fiscal year includes a push to phase out inefficient coal-fired power plants, start preparing for the liquefaction and transportation of carbon dioxide, and accelerate the development of carbon recovery technologies. To phase out inefficient coal-fired power plants, the ministry of Economy, Trade and Industry asked for a 25.8 per cent year-on-year increase in the energy transition budget for this fiscal year to Y24.4bn for such projects.
On the ammonia side, as part of the energy transition budget, the Ministry of Economy, Trade and Industry is beginning preparations for a pilot project to burn 20 per cent of ammonia in an ultra-supercritical coal-fired power plant by 2023. Ammonia, which contains about 18% hydrogen by weight, is a widely traded chemical that, when burned with the right amount of ammonia, can reduce the amount of carbon dioxide emitted by coal-fired power plants to zero.
In terms of carbon dioxide use, the Ministry of Economy, Trade and Industry has requested a budget of Y6.53 billion for pilot projects to transport CARBON dioxide this fiscal year, as part of a budget of Y53 billion for carbon capture, utilization, storage and recovery. Meti officials said the pilot project would include the design and construction of facilities to liquefy, transport and recycle carbon as well as a 1,000-tonne dual-purpose tanker.
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