News Release
Mitsubishi Corporation
ENEOS Corporation
JX Nippon Oil & Gas Exploration Corporation
³Ô¹Ï±¬ÁÏ͵ÅÄ Corporation
Cosmo Oil Co., Ltd.
Nippon Shokubai Co., Ltd.
PETRONAS CCS Solutions Sdn Bhd
JOGMEC selected a feasibility study on the establishment of an overseas CCS value chain in the “Engineering Design Work for Advanced CCS Projects” in FY2024
Mitsubishi Corporation, ENEOS Corporation, JX Nippon Oil & Gas Exploration Corporation, ³Ô¹Ï±¬ÁÏ͵ÅÄ Corporation, Cosmo Oil Co., Ltd., Nippon Shokubai Co., Ltd., and PETRONAS CCS Solutions Sdn Bhd, a subsidiary of Petroliam Nasional Berhad(PETRONAS), Malaysia’s national oil company, were commissioned to conduct a feasibility study on building an overseas CCS value chain targeting CO2 emissions from multiple industries in the Tokyo Bay area (the “Study”)in an open call for the “Engineering Design Work for Advanced CCS Projects” in FY2024 by Japan Organization for Metals and Energy Security (“JOGMEC”).
Having a memorandum of understanding (MOU) on this project signed in March this year, three new companies, ³Ô¹Ï±¬ÁÏ͵ÅÄ Corporation, Cosmo Oil Co., Ltd., and Nippon Shokubai Co., Ltd., have newly joined the Study.
The Study will examine facility designs of the CO2 separation and capturing, liquefaction, transportation, and storage, as well as estimate costs, identify key risks, and verify the feasibility for the social implementation of CCS. The amount of CO2 to be captured and accumulated in the region is expected to be around 3 million tonnes per year. Potentially, we explore to capture approximately 6 million tonnes of CO2 per year in the region.
The 7 companies will utilize their expertise to establish a value chain and to verify related technologies aiming to make FID by FY2026 and start storing CO2 by FY2030.
Related Release
About ³Ô¹Ï±¬ÁÏ͵ÅÄ Corporation
³Ô¹Ï±¬ÁÏ͵ÅÄ Corporation, one of the world’s leading integrated steel producers, was established through the consolidation of NKK Corporation and Kawasaki Steel Corporation in 2003. The company operates several steelworks in Japan and numerous branch offices and affiliates throughout the world. ³Ô¹Ï±¬ÁÏ͵ÅÄ leverages world-class technologies and know-how to produce a wide range of products based on its “Only One, Number One” strategy of focusing on unique and best-in-class products. The company reported consolidated sales of 2,255 billion yen and consolidated crude steel output of 23.96 million tons in the fiscal year ended March 2021.
# # #
