Chevron New Energies, a division of Chevron U.S.A. Inc., and JERA Co. have signed a Memorandum of Understanding (MOU) for collaboration on carbon capture and storage (CCS) projects located in the United States and Australia.
"This MOU has the potential to expand the significant liquid natural gas (LNG) relationship that Chevron and JERA have today, and further demonstrates the commitment and dedication both companies have to advancing lower carbon solutions," Chevron said.
Chevron said the MOU furthered the collaboration between the two companies in the lower carbon space, following the November 2022 announcement of their collaboration on the potential co-development of lower carbon fuel in Australia and the study of liquid organic hydrogen carriers (LOHC) in the United States.
In September 2022, Chevron said it was part of three joint ventures that were granted permits to undertake evaluation and appraisal work for the potential storage of carbon dioxide offshore Australia.
The blocks, including two in the Carnarvon Basin off the north-western coast of Western Australia and one in the Bonaparte Basin offshore Northern Territory, total more than 31,500 km2 or nearly 7.8 million acres – an area larger than Belgium. Read more.
Also, in May 2022, Chevron closed the transaction to enter a U.S. Gulf of Mexico carbon capture and storage joint venture with Talos Energy and Carbonvert. Read more.