Japanese companies Chubu Electric Power Co., Inc. and Inpex Browse E&P Pty. Ltd. are exploring establishing a carbon capture and storage value chain between Japan and Australia.
According to a press statement, Chubu partnered with Inpex Browse to assess the feasibility of capturing its carbon emissions in Japan and storing them in the latter’s project in Australia.
Inpex Browse, in partnership with France’s TotalEnergies and Australia’s Woodside Energy, was awarded a greenhouse gas storage assessment permit in 2022 in the Bonaparte basin off the northwestern coast of Australia’s Northern Territory.
The company also plays a crucial role in the Ichthys liquefied natural gas project, which began production in July 2018.
“This joint study will contribute to diversifying storage sites for carbon dioxide emitted around the Port of Nagoya and establish the international CCS value chain,” said Chubu in the statement.
On Monday, Inpex said Ichthys LNG project Down Under would be a natural user of this CCS solution, helping the venture reduce its greenhouse emissions.
Injecting CO2 into oil reservoirs increases the overall pressure, pushing the remaining oil toward production wells and facilitating easier extraction.
“It will contribute to the realization of a decarbonized society and further increase earnings,” added Chubu.
The energy utility aims to achieve net-zero CO2 emissions from its operations by 2050 and has been aligning its green approach through renewable energy with its blue policy by means of decarbonization.
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