BP plans withdrawal from Japanese offshore wind project

BP British oil major BP is looking to withdraw from an offshore wind power project off the coast of Yamagata Prefecture due to profitability concerns. The project is being undertaken by a consortium led by trading house Marubeni with Kansai Electric Power, Tokyo Gas, and BP as partners, among others. Marubeni will continue the project even if BP pulls out. The project calls for the construction of a fixed-bottom wind farm with a generating capacity of 450MW off the town of Yuza. The facility is set to begin operations in 2030. According to local media reports, BP has already informed its Japanese partners that it intends to leave the project. Mitsubishi Corp. and other companies pulled out of construction plans in three sea areas in Chiba and Akita prefectures last year, citing rising construction costs. The Japanese offshore wind sector took another hit at the end of June when Equinor announced that it would end its offshore wind business activities in Japan. The company said its Tokyo office would close by the end of 2026. Follow Us Bojan Lepic Bojan is an English language professor turned journalist with years of experience covering the energy industry with a focus on the oil, gas, and LNG industries as well as reporting on the rise of the energy transition. Previously, he had written for Navingo media group titles including Offshore Energy Today and LNG World News. Before joining Splash, Bojan worked as an editor for Rigzone online magazine. Read Next July 9, 2026 Fugro lands survey role on UK’s first offshore CO2 storage project July 9, 2026 Samskip lands key role in EU-backed hydrogen project July 9, 2026 OWC and APEM join forces on offshore wind decommissioning July 9, 2026 Petrobras strikes deal to bring 335 offshore wells into compliance July 9, 2026 Philippines suspends 3.3GW offshore wind auction Back to top button