Eneos partners with Aramco and Idemitsu Kosan for synthetic fuels

The collaboration boosts Japan’s relationship with Saudi Arabia and the company’s plans for the realization of a carbon-neutral society.

Eneos Corporation has signed a Memorandum of Understanding (MoU) on collaboration in synthetic fuels with the Saudi Arabian Oil Company (Aramco) and Idemitsu Kosan Co. The companies will explore development and distribution possibilities of the alternative fuel.

The company plans to achieve both a stable supply of energy and materials and the realization of a carbon-neutral society. Eneos is working to develop businesses for carbon-neutral fuels such as synthetic fuels to lead the energy transition and continue to support energy supply in Japan in a carbon-neutral society.

Synthetic fuels are low-carbon fuels that can reduce CO2 emissions throughout their product life cycle due to it being made from renewable hydrogen and captured CO2. This liquid fuel can contribute to the energy transition in a wide range of areas and industries since it enables the use of existing infrastructure.

As Japan imports more than one-third of its annual crude oil consumption from Saudi Arabia, this partnership will contribute to strengthen its relationship with the country. Both Eneos and Aramco will also explore the possibility of expanding collaboration in next generation fuels to realize a carbon-neutral society.