Japanese oil and gas giant, Eneos is set to invest more in liquefied natural gas (LNG) and sustainable aviation fuel (SAF) as part of a new 3-year business plan which will see it spend around $11bn on renewable fuel production.
“We plan to reinforce and expand our LNG operations as demand is expected to grow through around 2040,” Eneos CEO Tomohide Miyata said.
According to Reuters, the 3-year spend will see 310 billion yen in low-carbon energy, 250 billion yen in decarbonised energy, and 180 billion yen in oil and chemicals, on top of 820 billion yen to maintain Eneos’ core refinery operations.
