JERA and INPEX Sign Agreement for CO2 Capture and Storage Feasibility Study
05.14.2024 By Tank Terminals - NEWS

May 14, 2024 [Storage Terminals Magazine]- JERA Co., Inc. and INPEX CORPORATION have recently signed an agreement to conduct a preliminary joint study on the feasibility of separating and capturing CO2 emissions produced by JERA in Japan, and subsequently transporting the captured CO2 to Australia for underground storage.

 

As the drive towards carbon neutrality intensifies, carbon capture and storage technologies, which involve storing CO2 underground, are becoming essential for industries that face significant challenges in reducing CO2 emissions. With many governments actively supporting these initiatives, CCS projects are being developed across the Asia-Pacific region and globally.

Australia is making significant strides in reducing CO2 emissions, fostering a business environment that promotes CCS projects. The country benefits from an abundance of suitable sites for underground CO2 storage and is positioning itself to receive CO2 from international sources.

Under the terms of the agreement, JERA and INPEX will collaboratively assess the feasibility of the entire project value chain. This includes the separation and capture of CO2 emissions by JERA in Japan, the transportation logistics between the two countries, and the eventual underground storage of CO2 in Australia. The study will consider various transport methods, shipping conditions, and receiving protocols.

INPEX brings substantial expertise in CCS technologies and business development, particularly through its involvement in the Ichthys LNG Project in Australia. The company views CCS as an effective method for reducing CO2 emissions from multiple projects. JERA anticipates that this joint study with INPEX will be instrumental in establishing a global CCS value chain, facilitating the cross-border transportation and storage of CO2, and aiding in the global transition to a decarbonised society.

JERA has committed to achieving net-zero CO2 emissions from its domestic and international operations by 2050 under its “JERA Zero CO2 Emissions 2050” initiative. To support CCS projects, JERA is accelerating its evaluation of CO2 capture and storage technologies, along with the associated economic considerations.

 

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