日经独家：日本拟修法允许JOGMEC与民企共同投资海外生物燃料项目，并补贴国内生物塑料/生物乙醇产能，到2036财年支持约20个项目、总额数千亿日元

TOKYO -- Japan's government plans to lay a path for co-investing in overseas biomass fuel projects with its private companies, Nikkei has learned, with a goal of diversifying energy sources away from fossil fuels.
The Ministry of Economy, Trade and Industry aims to revise relevant legislation to explicitly allow the government-backed Japan Organization for Metals and Energy Security (JOGMEC) to invest in overseas biofuel projects where private-sector Japanese companies are involved.
JOGMEC now invests in mines for critical minerals, as well as in natural gas and other energy development projects, but not in biofuels. The changes aim to mitigate risks taken on by private Japanese enterprises that invest in overseas biomass companies.
Operations overseas are often carried out through joint ventures. Under the new process, Japanese companies would invest in the projects and participate in management alongside JOGMEC.
The joint investments would give the Japanese side more say in sales and pricing for the produced fuel. Japanese companies would be able to negotiate favorable terms for procuring the biofuels and avoid unreasonable pricing demands.
The government also plans to support Japanese production of products derived from bio-based materials. The plan is to subsidize a certain percentage of the costs when private companies build or expand facilities for making bioplastics and bioethanol.
Bioplastics derived from such precursors as corn and sugar cane are said to cost around three times as much to produce as those derived from petroleum. Through the new initiative, the government looks to reduce costs by increasing economies of scale through mass production.
The government is expected to subsidize 20 or so projects by fiscal 2036, with financial support totaling hundreds of billions of yen (100 billion yen equals $651 million). Subsidy ratios and other specifics have yet to be finalized.
Biomass products are part of the $2 trillion-plus growth strategy finalized by Prime Minister Sanae Takaichi's government in July. The government aims to reduce the risk of long-term external dependence and ensure economic autonomy in this sector.
The Iran war has disrupted the supply of oil and naphtha, impacting Japanese economic activity. More than 90% of Japan's crude oil imports came in via the Strait of Hormuz in 2025.
The market for bio-derived products remains very small at the moment. The goal is to increase sales by Japanese companies in this sector to 11.9 trillion yen by 2040.