Japanese energy companies JERA and INPEX have signed an agreement to undertake a preliminary joint study on the feasibility of establishing a carbon capture and storage (CCS) scheme to transport CO2 emitted in Japan for storage in Australia.
Under the agreement, JERA and INPEX will jointly examine project feasibility across the entire value chain, from the separation and capture of CO2 emitted by JERA in Japan to its transportation between the two countries, including transport methods and shipping/receiving conditions, and its underground storage in Australia.
INPEX has expertise in technologies and business development concerning CCS, which is considered as an effective means of reducing CO2 emissions from multiple projects in Australia including the Ichthys LNG Project which is operated by INPEX.
JERA believes that this joint study with INPEX will contribute to building a global CCS value chain for the cross-border transportation and storage of CO2 and, through the use of CCS, to advancing the transition to a decarbonized society.
In working to achieve carbon neutrality, CCS techniques that store CO2 underground are indispensable for industries in which it is difficult to reduce CO2 emissions. With many governments providing active support, CCS projects are being planned in the Asia-Pacific region and around the world.
Australia is bolstering its efforts to reduce CO2 emissions and moving forward to foster a business environment that encourages CCS projects that take advantage of its abundance of sites suitable for underground CO2 storage and facilitates the receipt of CO2 from outside the country.