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Press Conference by Minister Saito (Excerpt)

*Note: This is a provisional translation for reference purposes only.

9:36-9:41 a.m.
Tuesday, May 14, 2024
Press Conference Room, METI Main Building

Opening Remarks

Strategic Energy Plan

Good morning.
First, I would like to mention one point.
Tomorrow, on May 15, the Strategic Policy Committee under the Advisory Committee for Natural Resources and Energy will commence discussions on the review of the Strategic Energy Plan.
At yesterday's meeting of the Green Transformation (GX) Implementation Council, Prime Minister Kishida showed his thoughts to consider through GX2.0 a drastic change to the entire economy and society, including the industrial structure, industrial locations, technological innovation, and consumer behavior and efforts for decarbonization in an integrated manner, to incorporate those as the strategy for 2040, and to show a realistic path towards decarbonization that can be shared by the public and private sectors.
In reviewing the next Strategic Energy Plan, we would like to engage in deep discussions on the future direction of energy policies that Japan should aim for, based on these points, while ensuring a good balance of S+3E.
I will end my remarks here.

Question-and-Answer Session

GX2040 Vision

Q: In relation to your first remark, you said that at yesterday's meeting of the GX Implementation Council the intention to set up the GX2040 Vision was presented and discussions therefor commenced. Could you explain specifically how the discussions will proceed to make the Vision effectively encourage domestic investment and the very meaning of setting a goal for 2040?

A: At yesterday's meeting, members confirmed the presented policy direction to comprehensively discuss issues concerning the industrial structure, industrial locations, and energy and compile them as the GX2040 Vision in order to accelerate the implementation of GX aiming to achieve Japan's economic growth and decarbonization, and support investment in the industry, and I believe we were able to obtain the understanding of participating experts.
We will discuss what the nature of Japan's industrial structure should be and how Japanese companies should make profits in around 2040, and such discussions will be extremely important for the future of Japan. We would like to proceed with a sense of caution in the discussions.
How we will envision Japan in 2040 is the very issue we will discuss from now. We would first like to hear opinions broadly from experts in diverse fields regarding points that the Prime Minister mentioned, such as the industrial structure, industrial locations, energy, technological innovation, and consumer behavior.

Hydrogen Society Promotion Bill

Q: I would like to ask you about the hydrogen-related bill. I think the aim is to enact the Hydrogen Society Promotion Bill, which is currently under discussion, during this session of the Diet. If it is enacted, in what fields do you think companies will benefit? Support measures to offset the price gap between hydrogen power and existing fuel sources will also be discussed, but do you think that such measures can be commenced, for example, by the end of this year?

A: Hydrogen and other types of energy may be utilized in fields and for uses relating to iron and chemicals, where electrification is difficult, and will also be utilized in a broader range of industries such as those relating to mobility and power generation.
In order to back up further utilization of hydrogen and other types of energy in these industrial fields, the plan is to first create a supply chain for low-carbon hydrogen and other types of energy that will be pioneering and is highly likely to be self-sustaining integrally on the demand side and the supply side. This will be done under the Hydrogen Society Promotion Bill that is under discussion. Through this effort, we will aim to develop an environment necessary for the supply, storage and utilization of low-carbon hydrogen power.
After the Bill is enacted, we plan to begin accepting applications for the support system around this summer. In order to commence the provision of support this year, applications will be adopted sequentially from those that become ready for implementation.

Last updated:2024-05-14