22/02/2023 – Environment / Carbon Capture / Storage / CCS / JX Nippon / ENEOS / Japan
New JV established to accelerate commercialisation of CCS in Japan
JX Nippon Oil & Gas Exploration Corp., ENEOS Corp., and Electric Power Development Co. Ltd (J-POWER) have announced their decision to establish a joint venture – West Japan Carbon dioxide Storage Survey Co. Ltd – to accelerate preparations for the commercialisation of domestic Carbon Capture & Storage (CCS).
The three companies are jointly working on a feasibility study for large-scale CCS in Japan to reduce the country’s CO2 emissions. In addition, the companies aim to contribute to achieving Japan's greenhouse gas emission reduction targets while ensuring a stable energy supply by implementing Japan's first full-scale CCS supply chain (i.e., consisting of the separation, capture, transportation, injection and storage of CO2) by 2030.
The companies will collaborate with other partners who are working on carbon neutrality (as announced back in May 2022).
With the understanding and co-operation of local residents, local governments, and national and related organisations, the new joint venture will promote preparations for commercialisation, including exploration and evaluation. The intention is to select candidate sites for CO2 storage in western Japan where the sources of ENEOS and J-POWER emissions are located, and where the potential for CO2 storage is anticipated, with the aim of starting CO2 injection in 2030.
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