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JBIC Signed Memorandum of Understanding for Comprehensive Strategic Partnership with Woodside Energy Group Ltd. of Australia
Promoting Collaboration for Supply of Energy and Creating Decarbonization Opportunities

  • Region: Oceania
  • Energy and Natural Resources
  • Environment
November 1, 2022
  1. The Japan Bank for International Cooperation (JBIC; Governor: HAYASHI Nobumitsu) signed today a non-binding memorandum of understanding (MOU) for a comprehensive strategic partnership with Australian company Woodside Energy Group Ltd. (Woodside). The partnership aims to, inter alia, secure a stable supply of energy, and strengthen collaboration and promote cooperation in the field of decarbonization.
      
  2. Woodside is a global energy company and pioneered the LNG industry in Australia. As the operator of major Australian LNG projects, alongside Japanese joint venture participants, Woodside has been supplying energy to Japan for more than 30 years. Woodside is investing in new energy products, such as hydrogen and ammonia, and lower-carbon services such as CCUS*1.
      
  3. In October 2012*2, JBIC and Woodside signed an MOU for a comprehensive strategic partnership, which aimed to, among other things, promote cooperation in the LNG sector. The MOU signed today redefines the one signed a decade ago, by strengthening collaboration in the field of new energy products and lower-carbon services such as hydrogen and ammonia production, and CCUS, as well as by promoting cooperation in the LNG sector. This new partnership is intended to promote the forming of projects in these fields.
      
  4. As Japan’s policy-based financial institution, JBIC will continue to financially support the creation of business opportunities for Japanese companies and the securing of a stable supply of energy to Japan.
      

Note
  1. *1 
    Carbon dioxide Capture, Usage and Storage (CCUS) is a technology that separates and captures carbon dioxide that would become a greenhouse gas and utilizes and stores it.
  2. *2 

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