- Idemitsu Kosan Co Ltd. transforms Yamaguchi Refinery into a carbon-free Hub.
- The refinery will cease operations by March 2024.
Idemitsu Kosan Co Ltd revealed plans on Monday to convert the Yamaguchi refinery in western Japan into a hub for carbon-free energy, focusing on solar power and hydrogen by the 2030s. With a current capacity of 120,000 barrels daily, the refinery will cease refining operations by March 2024. It will transition into a terminal for receiving, shipping, and stockpiling petroleum products. This move aligns with Idemitsu’s commitment to adjust refining capacity in response to demographic changes and the global shift to eco-friendly energy sources.
The company envisions the site as a green energy hub, integrating resource recycling and technology development. The initial steps for the conversion involve implementing a carbon-free electricity supply and leveraging solar power farms in the latter half of the 2020s. The plans also include venturing into biomass and resource recycling businesses. Idemitsu will unveil detailed plans for this transformative initiative in subsequent stages.