2/21/2006

Signs of large-scale reserves of natural gas found off Japan
TOKYO (Itar-Tass) — The signs of large-scale reserves of natural gas have been found near the shores of Japan. The press reported on Tuesday that a group of researchers, among them specialists of Tokyo Univesity and the National Agency for the Ocean Study and Exploration, have discovered large deposits of methane hydrate (also known as crystalline hydrate) on the bed of the Sea of Japan at a depth of about 900 metres, approxiamtely 30 kilometres north-west of the port of Naoetsu (Niigata Prefecture)...more…

In Japanese wetdreams, the seabeds surrounding Japan have enough methane hydrate form of natural gas for 100 years’ worth of Japan’s need for energy. Methane hydrate (メタンハイドレート) is like a sherbet form of methane that’s locked inside water. When the methane is released from the “sherbet,” it is the same as LNG (liquified natural gas).
Japan’s Ministry of Economy, Trade and Industry has made a production cost calculation that with an optimal technology for releasing the trapped methane the cost will be $54 to 77 per “barrel” of methane hydrate. As the current crude oil price is $60 per barrel and that of LNG is $90 in some trading, they think methane hydrate is now a viable engery source.
Gee, I can even guess the Ministry of Economy, Trade and Industry’s new slogan, “Let’s burn farty ice!(c)”