Japan's petroleum industry has commenced sales (distribution trials) of "bio-gasoline (bio-ETBE blend)," a regular gasoline formulated with bio-ETBE, as part of the Ministry of Economy, Trade and Industry's "FY2007 Introduction of Biomass-Derived Fuel Program." The trials began on April 27, 2007 at 50 service stations in the Tokyo area, six of which were Cosmo Oil service stations. Bio-gasoline (bio-ETBE blend) is used in exactly the same way as regular gasoline, but is a regular gasoline with an additive of bio-ETBE that is synthesized from bio-ethanol－grain alcohol derived from such plants as corn or sugarcane－and isobutene, a petroleum-based gas.
The sale of bio-gasoline is aimed at meeting greenhouse gas reduction targets to which Japan made a global commitment under the Kyoto Protocol (international treaty). The oil industry is working in cooperation to meet targets set by the Japanese government. In fiscal 2008, sales will be expanded to 100 service stations, and a full-scale introduction is scheduled for fiscal 2010.
In December 2004, our first wind power generation plant commenced operation in Sakata City, Yamagata Prefecture. The Cosmo Oil Sakata Wind Power Plant is expected to generate 3.8 million kWh of electric power annually. Wind power is attracting a great deal of attention as a clean energy source, and this plant reduces CO2 emissions by 1,200 tons annually compared with electric power generated by thermal and other generating methods. Along with continuing to develop new candidate sites for wind power generation facilities, surveys and investigations are being conducted directed toward commercialization.
Cosmo Oil engages in the distributed power supply system business. This business involves both generating and supplying electricity with equipment installed at sites where energy is used, including hospitals, plants, and other locations. Cogeneration systems, which utilize exhaust heat produced during electric power generation to produce hot water or steam, enable increased energy usage efficiency and a reduction in CO2 emissions. As of the end of June 2007, our distributed power supply system business had concluded contracts for approximately 30,000 kW, of which approximately 6,000 kW is from cogeneration equipment.
Since fiscal 2005, we have participated in "business for large-scale field trials of stationary fuel cells" and commenced field trials of liquid petroleum gas (LPG) stationary fuel cell systems for general household use. Based on data gathered from these field trials, we are evaluating energy conservation and economy and efficiencies obtained when fuel cells were installed in households and clarifying issues in the run-up to the widespread use of fuel cells. At the same time, these trials are being used for the commercialization of kerosene-based fuel cells and for the development of related technology.
Cosmo Oil partnered with five other private-sector companies to establish the Nippon GTL Technology Research Association. This entity, in collaboration with Japan Oil, Gas and Metals National Corporation (JOGMEC), commenced verification research on GTL technology. The liquid fuel manufactured through GTL technology is expected to be an environmentally friendly clean fuel. Through this research, we will develop the technology to compete with the major oil companies that have taken the lead in this field as we work toward achieving harmonization between ensuring future stable supplies of energy and preserving the global environment.
*GTL technology is a refinery process that chemically converts natural gas into synthetic gas (mixed CO and H2 gas). The mixed gas is then converted into liquid fuel using the Fischer-Tropsch process.
Homogeneous Charge Compression Ignition, or HCCI, is a method of internal combustion in which a mixture of fuel and air is compressed for auto-ignition rather than ignition by a spark plug. This is an environmentally compatible technlogy capable of simultaneously realizing high efficiency and clean exhaust that is expected to have applications in automobile engines. Currently, in collaboration with automobile makers and universities, we aim to build upon research results attained to the present while progressing with research into next-generation fuels suitable for HCCI engines.
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