Australia-Japan News | November 2022

Australia-Japan News | November 2022

This page collates links to interesting articles that provide a picture of what is happening in Japan and in the Australia-Japan relationship, with brief summaries of their content.

While we don’t claim this list to be comprehensive, and some of the articles may be behind paywalls, we hope it will evolve into a valuable resource that assists members and subscribers in keeping up to date and provides a record of key developments… make sure to check back regularly to see the latest.

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* indicates the article is behind a paywall.

November 2022
US, Japan back Australia’s Digicel Pacific purchase with $150 million in credit guarantees

The U.S. and Japan announced that the US International Development Finance Corporation (DFC) and the Japan Bank for International Cooperation (JBIC) would each provide credit guarantees of around $75 million to back the Australian government’s move to fund Telstra’s purchase of Digicel Pacific. Telstra announced in July that it had finalised its $2.4 billion purchase of Digicel Pacific, the Pacific’s largest telco with 2.5 million subscribers across several Pacific Island nations. The deal was largely funded by the Australian federal government, which provided almost $2 billion.
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Chevron and Mitsui O.S.K Lines to study CO2 shipping from Singapore to Australia

Chevron and Mitsui O.S.K. Lines (MOL) announced the signing of a Joint Study Agreement on the technical and commercial feasibility of transporting liquified CO2 from Singapore to permanent storage locations offshore Australia. Under the agreement, Chevron and MOL will conduct the feasibility study as part of exploring solutions for developing large-scale CCUS. Chevron is part of three joint ventures that have been granted an interest in three greenhouse gas assessment permits offshore Australia. Read more > 

Japanese company GEECHS Inc. acquires shares of Australian Launch Group Holdings

Japanese IT Freelance Matching Company GEECHS Inc. announced that it has acquired 70% of the shares of Launch Group Holdings Pty Ltd, an Australian IT human resources services company, making it a consolidated subsidiary of GEECHS. Launch was established in 2006 and has an extended track record dealing with major companies, which will help GEECHS to pursue its cross-border matching and IT freelance development business in the Asia Pacific as the company aims to grow as a technology and resource sharing agent in the IT freelance field. Read more >

Chevron and JERA sign joint study agreement to explore co-development of lower carbon fuel in Australia

Chevron and JERA (a joint venture of TEPCO and Chubu Electric Power) said the companies have signed a Joint Study Agreement to explore the potential co-development of lower carbon fuel in Australia and will jointly conduct a feasibility study. The project would seek to leverage Chevron’s broad knowledge and experience in LNG and CCS. The companies are collaborating on multiple lower carbon opportunities – including production, CCS and new technology ventures focused on the U.S. and Asia Pacific region. Read more >

TEPCO Renewable Power moving into Australian offshore wind farm business through acquisition of Flotation Energy (UK)

Japanese utility Tokyo Electric Power Company (TEPCO) announced its subsidiary, TEPCO Renewable Power, has agreed to acquire British offshore wind farm developer Flotation Energy, which is developing offshore wind farm projects across the UK, Ireland, Taiwan, Japan and Australia. This is TEPCO’s first investment in an overseas wind power business. Through the acquisition, TEPCO will pursue Flotation Energy’s Australian projects* including the Seadragon Offshore Wind Project off Gippsland and the Perth Array Offshore Wind Project. Read more >

JBIC Signed MoU for Comprehensive Strategic Partnership with Woodside Energy

On 1 November, the Japan Bank for International Cooperation (JBIC) signed a non-binding MoU for a comprehensive strategic partnership with Woodside Energy Group to secure a stable supply of energy and strengthen collaboration on decarbonisation. In 2012, JBIC and Woodside signed an MoU to promote cooperation in the LNG sector. The new partnership is intended to redefine the one signed a decade ago by strengthening cooperation on new energy products and lower-carbon services such as hydrogen and ammonia production and CCUS while continuing to promote cooperation in the LNG sector. Read more >