JX Nippon Oil & Gas and Chevron New Energies sign CCS MOU

In Texas, JX Nippon Oil & Gas Exploration Corporation and Chevron New Energies signed a Memorandum Of Understanding that provides a framework to evaluate the export of Carbon Dioxide (CO2) from Japan to Carbon Capture and Storage (CCS) projects located in Australia and other countries in the Asia Pacific region.

The main objective of the MOU is to evaluate the feasibility of the CCS value chain, including capture of CO2 emitted from industries located in Japan, including JX’s affiliates, and transportation by ship from Japan to Chevron’s greenhouse gas storage portfolio in Australia. The collaboration will also explore the opportunity to develop suitable transboundary policies and the potential development of CO2 storage sites in other countries in the Asia Pacific region.