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    7004   JP3789000001

HITACHI ZOSEN CORPORATION

(7004)
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Tokyo Gas to start methanation pilot programme by end-March

07/07/2021 | 07:34am EDT
Gas tanks of Tokyo Gas Co.,Ltd are seen in the city of Yokohama

YOKOHAMA, Japan (Reuters) - Tokyo Gas Co Ltd, Japan's biggest city gas supplier, said on Wednesday it would start a demonstration test of methanation, a technology to help decarbonise city gas, in Japan by the end of next March.

Methanation converts hydrogen and carbon dioxide (CO2) into synthesized methane, an alternative of the main component in natural gas, and it is considered a way of using CO2 as a raw material that could help the company achieve carbon neutrality in 2050, it said.

Methane can be used in many ways, including as a fuel to generate heat and electricity in power plants or at home, and as a raw material for the chemical industry.

Tokyo Gas plans to start the pilot programme at its research centre in Yokohama, near Tokyo, initially using hydrogen and CO2 procured from outside.

It also plans to use hydrogen generated by a water electrolysis device from Britain's ITM Power PLC, which it aims to install at the test site by next June, as well as CO2 emitted and captured from nearby factories or its customers in the future.

It plans to use Hitachi Zosen Corp's methanation device.

Tokyo Gas wants to develop the technology and a supply chain as it can use existing natural gas infrastructure such as pipelines, storage tanks, gas-fired power plants and tankers.

"To reduce social costs, it is important to make effective use of existing infrastructure, and methanation is a promising option for decarbonisation of gas energy," Kentaro Kimoto, Tokyo Gas' senior managing executive officer, told a news conference.

(Reporting by Yuka Obayashi; Editing by Mark Potter)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
HITACHI ZOSEN CORPORATION 3.31% 906 End-of-day quote.58.95%
ITM POWER PLC -0.45% 481.84 Delayed Quote.-6.24%
TOKYO GAS CO.,LTD. 0.24% 1870.5 End-of-day quote.-21.54%
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Financials
Sales 2022 410 B 3 591 M 3 591 M
Net income 2022 7 733 M 67,8 M 67,8 M
Net Debt 2022 72 200 M 633 M 633 M
P/E ratio 2022 19,7x
Yield 2022 1,32%
Capitalization 153 B 1 337 M 1 339 M
EV / Sales 2022 0,55x
EV / Sales 2023 0,52x
Nbr of Employees 11 089
Free-Float 96,9%
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Number of Analysts 2
Last Close Price 906,00 JPY
Average target price 1 050,00 JPY
Spread / Average Target 15,9%
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Managers and Directors
Takashi Tanisho Chairman & Chief Executive Officer
Sadao Mino President, COO & Representative Director
Michi Kuwahara Director & General Manager-Administration
Kazuko Takamatsu Independent Outside Director
Richard R Lury Independent Outside Director
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