Industry News

Japanese consortium outlines carbon, capture and storage plans aligned with Petronas’ aims

by | Jun 23, 2023

Japanese trio Japex, JGC and Kawasaki Kisen Kaisha (K Line) have signed a Memorandum of Understanding with the JFE Steel Corporation to collaboratively evaluate the potential for a carbon, capture and storage (CCS) value chain in Japan.

The proposed value chain would cover the whole process, beginning with separating and capturing carbon dioxide at JFE’s steelworks in Japan, before shipping the liquefied CO2 to receivers in the Malaysian region. The consortium will also carry out an assessment of all of the necessary facilities and associated costs.

The project is aligned with a CCS study which is currently being carried out by Japex, JGC and K Line in Malaysia in cooperation with Petronas. At present, the group is working to identify suitable CO2 storage sites in Malaysia while also investigating the viability of CO2 capture and transport from Petronas’ LNG Complex in Bintulu, Malaysia. The partners are also carrying out assessments to evaluate the potential to transport CO2 to additional countries.

To date, the Japan-based trio has had conversations with CO2 emitters who could be potential candidates for cooperation, with a focus also being placed on the possibility of transporting CO2 from Japan. A previous dialogue with JFE Steel found that the company was seeking to reduce its CO2 emissions, leading to the MoU being formed. “By the establishment of the international CCS value chain through the evaluation, Japex, JGC, K Line and JFE Steel aim to contribute for the realization of carbon neutrality by 2050, including the realization of a decarbonized society in Asia targeted by [the] Asia Energy Transition Initiative,” commented the companies in a joint statement.

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