THE Province of British Columbia and the Japan Organization for Metals and Energy Security (JOGMEC) have signed a renewed and strengthened memorandum of understanding (MOU) to explore mutually beneficial solutions to enhance export opportunities and help unlock new sources of energy, such as hydrogen.
“Japan is as a vital market for British Columbian businesses and a key pillar in our long-term economic success that will create jobs and benefit all British Columbians,” said Premier David Eby on Tuesday. “Today marks the renewal of a partnership between British Columbia and Japan that will bolster energy security and leverage B.C.’s status as a clean-energy powerhouse to help us move toward the clean-energy solutions of the future.”
The renewed MOU builds on a long-standing partnership between JOGMEC and British Columbia. It will foster greater collaboration between the two parties on crucial issues related to energy and environmental sustainability.
The MOU is intended to strengthen collaboration between JOGMEC and the Province in three key areas:
* deployment and use of hydrogen as a low-carbon fuel;
* export of energy and minerals, including critical minerals; and
* carbon dioxide capture, utilization and storage (CCUS) technology.
The MOU embraces JOGMEC’s expanded mandate, which includes equity investment for the production and storage of hydrogen and ammonia, and carbon dioxide capture and storage. The inclusion of mineral resources reflects the important trade relationship that exists between Japan and B.C.
JOGMEC said in a statement: “JOGMEC sees B.C. as an important partner and welcomes the renewal of the MOU. Japan and B.C. have had a long relationship across the Pacific Ocean. Through the MOU, JOGMEC will strengthen the bilateral relationship with B.C., and secure a stable and affordable supply of natural resources and energy to Japan, as well as achieve carbon neutrality.”
Both parties are collaborating on a detailed action plan to follow the MOU to help guide the work required during the term of the agreement.
Josie Osborne, B.C. Minister of Energy, Mines and Low Carbon Innovation, said: “We value the strong relationship with JOGMEC that has contributed to positive developments in our energy and mining sectors, supporting good, well-paying jobs for British Columbians. Japan is a critically important export market for our energy and mineral products, and this renewed memorandum of understanding shows our commitment to further strengthening this trading relationship and advancing low-carbon fuels, like hydrogen.”
Brenda Bailey, B.C. Minister of Jobs, Economic Development and Innovation, said: “Transitioning and finding more low-carbon solutions are key to a cleaner, more sustainable future. Renewing this agreement with JOGMEC reinforces our commitment to finding innovative solutions to solve global industry challenges. We look forward to working with our international partners to strengthen our supply chains, support more well-paid jobs and build a stronger, greener economy for generations to come.”
* JOGMEC is a Japanese incorporated administrative agency, which was formed in 2004 after the merger of Japan National Oil Corporation and Metal Mining Agency of Japan.
* JOGMEC reports to the Japanese Ministry of Economy, Trade and Industry (METI).
* JOGMEC’s purpose is to secure a stable supply of natural resources and energy for Japan, and it provides the Japanese private sector with financial and technical assistance to secure natural resources and energy for Japan.
* The first MOU between JOGMEC and the Province was signed in 2012, with extensions in 2013, 2016 and 2019.
* The initial focus of the MOU was on natural gas, and focus shifted more toward development of clean energy and critical minerals starting in 2019.