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bp enters Japan retail electricity market

Release date:
27 November 2023
TOKYO — bp has entered the electricity market in Japan after receiving approval from thecountry’s Ministry of Economy, Trade and Industry (METI) as a registered electricity retailer. Thenew business will operate as bp energy Japan (BPEJ)

“I am excited that bp willbe participating in Japan’s vibrant electricity market. Tapping into our global expertise, we lookforward to delivering solutions to our Japanese customers in the power sector. This expansioninto power bolsters bp’s long history in Japan as a trusted supplier of liquified natural gas, oil,refined products and lubricants for more than 60 years.”


Luke Peacocke, vice president of power trading in Asia-Pacific


bp is focused on transforming to an integrated energy company with its three-pillar strategy inresilient hydrocarbons, convenience and mobility, and lower carbon energy. This latest move ispart of the company’s plans to increase investment into its five transition growth engines thatincludes renewables and power.


BPEJ is part of bp’s trading and shipping business, which offers an extensive platform that bpcan use to meet the energy needs of global customers, while working to support the transitionto a low carbon economy.


bp's power trading and origination team combines international expertise with a deepknowledge of the regional markets to manage the supply and demand balance across bp’sgrowing portfolio. This includes off-taking power in the form of power purchase agreements(PPAs) and optimizing and managing the risks to deliver clean energy solutions to meet ourcustomers’ individual needs.


bp has been operating in Japan since 1960. Today it has oil and LNG trading, and Castrollubricants business with Japanese customers, and aims to continue to grow these businesses.In 2023, bp and Chubu Electric announced an agreement to explore opportunities fordecarbonization projects in Japan and Asia region. In 2022, bp and Marubeni announced anagreement to form a strategic partnership for offshore wind and potentially otherdecarbonization projects. In 2021, bp agreed to work with Japanese shipping company NYKLine on future fuels and transportation solutions to support decarbonization of the hard-to-abateshipping sector

Further information



bp press office, , bppress@bp.com