Friday, June 12, 2009

Japan Biofuels in deal to buy domestic bioethanol


TOKYO, June 11 (Reuters) - Japan Biofuels Supply LLP has struck a deal to buy a total of 8,000 to 13,000 kilolitres (50,000-82,000 barrels) of bioethanol from two domestic producers in Hokkaido, northern Japan, as a feedstock for ETBE used in blending with gasoline, the company said on Thursday.

JBSL, a joint venture of Japanese oil refiners, said the contract, which runs from Sept. 1 to March 31, was signed with Oenon Holdings Inc (2533.T) and Hokkaido Bioethanol Co.

Japanese oil companies started selling gasoline blended with ethyl tertiary butyl ether (ETBE) in some retail markets in 2007, and plan to market ETBE-blend gasoline nationwide from 2010.

By then the industry plans to blend an annual 840,000 kl of ETBE, containing 360,000 kl of bioethanol, with gasoline so that biofuel blends will make up 20 percent of the country's annual total gasoline demand of 60 million kl (1 million bpd). (Reporting by Osamu Tsukimori; Editing by Clarence Fernandez)- REUTERS

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