NEXI signs MOU with JOGMEC
Nippon Export and Investment Insurance
Nippon Export and Investment Insurance (NEXI; Chairman and CEO: Atsuo Kuroda) and Japan Organization for Metals and Energy Security (JOGMEC; Chairman & CEO: Tetsuhiro Hosono) have signed a Memorandum of Understanding (MOU) on March 29, 2023, aiming for collaboration and cooperation in the fields of new technologies including hydrogen and CCS.
JOGMEC is the first partner organization with which NEXI has signed an MOU for business cooperation in the new technology fields. Established in February 2004, JOGMEC is an incorporated administrative agency for seeking stable supply of natural resources and energy for Japan, consolidating the functions of the former Japan National Oil Corporation and the former Metal Mining Agency of Japan, which assumed the roles of securing stable supplies of oil and natural gas, and of non-ferrous mineral resources, respectively. In November 2022, JOGMEC added functions including equity investment and liability guarantees for production and storage projects of hydrogen and ammonia, as well as for Carbon dioxide Capture and Storage (CCS) projects.
NEXI has also been focusing to enhance support for decarbonization business. As of March 20, 2023, NEXI has revised its insurance policy for Investment and Loan Insurance for Natural Resources and Energy to widen the target scope and include hydrogen and ammonia, as a means to actively support the efforts by Japanese companies to achieve carbon neutrality.
Provided by JOGMEC (From the left: Atsuo Kuroda, NEXI’s Chairman and CEO, Tetsuhiro Hosono, JOGMEC’s Chairman and CEO)
This MOU aims to promote effective and efficient information gathering and risk analysis in the new technology fields including hydrogen and CCS by NEXI and JOGMEC, through collaboration and cooperation by mobilizing the expertise and human resources of both institutions. It is expected that the MOU will contribute to promote projects by Japanese companies in the fields of hydrogen and CCS.
As a Japanese financial institution to implement national policies, NEXI will continue to actively support Japanese companies to expand their global business, by reinforcing alignment and collaboration with external organizations and institutions.
| Official Name | Japan Organization for Metals and Energy Security (JOGMEC) |
| Representative | Chairman & CEO, Tetsuhiro Hosono |
| Website | https://www.jogmec.go.jp |
Contact: Solution Service Group, Structured and Trade Finance Insurance Department
Tel: +81-(0)3-3512-7744