50 Japanese companies to commercialise methane hydrate fuel
Roughly 50 Japanese companies are to set up an organisation to support the commercialisation of methane hydrate. At present, extraction and transportation costs are major obstacles in the development of the fuel source. The companies will share information, and with help from the Japanese government, aim to commercialise methane hydrate in or after 2023. Japan hopes to champion the new energy source, which could replace the nation's dependency on nuclear power and fossil fuels. Estimates indicate that Japanese offshore zones have reservoirs of methane hydrate that could meet 100 years' worth of liquid natural gas demand.
TOKYO -- About 50 Japanese companies are joining forces to support the commercialization of methane hydrate, a fuel anticipated in Japan as a next-generation energy source.

Methane hydrate, also known as "burning ice" for its icelike form, contains methane, which is also found in natural gas. But costs to extract and transport the fuel beneath the ocean floor remain an obstacle. By spearheading commercialization, Japan hopes to lead in exploiting the new energy, which could replace nuclear power or liquefied natural gas.