Hamamoto: Working with World Partners

Tommy Hamamoto
U.S. Grains Council
Wed., February 21, 2024 (10:30am)
Working with World Partners: The International Outlook

Transcript

1. Fuel Ethanol Situation • Gasoline consumption: • 12 billion gallon per year (vs. 135 billion gallon in the U.S.: one-tenth) • Ethanol consumption/introduction: • Target volume set by GOJ: 217 million gallon per year (500,000 KL/year crude oil equivalent) in 2010 (E1.9) • Use as ETBE (ethyl tertially butyl ether)
2. Ethanol Consumption for On-Road Fuel Act on Sophisticated Methods of Energy Supply Structures 217 million gallons US gasoline US Revisions:
3. Future E10 Implementation (Image from ENEOS long-term business strategy) 2023 2027 2030 2040 CN10 High Octane Start CN10 High Octane Full-scale CN20 Gasoline Full-scale CN: Biofuel and e-fuel Carbon intensity values: Own calculations based on GREET Gasoline baseline: 88.74 gCO2/MJ U.S. corn-based ethanol: 36.86 gCO2/MJ (-58.5%) Brazilian sugarcane-based ethanol: 28.59 gCO2/MJ (-67.8%) CI reduction requirement: -55%
4. Huge SAF Demand Potential (million gallon) 500 250 0 Demand Supply potential Source: METI Japan’s SAF demand and supply potential Demand in 2030: 450 million gallon/year Challenges for U.S. ethanol • Eligibility under the CORCIA/ICAO Default LCA value of corn- based ethanol is not qualified for CORSIA