JX, Chevron Sign MOU For Collaboration On Carbon Capture And Storage Projects

(RTTNews) - JX Nippon Oil & Gas Exploration Corporation and Chevron New Energies, a division of Chevron U.S.A. Inc., said that they have signed a Memorandum Of Understanding that provides a framework to evaluate the export of Carbon Dioxide from Japan to Carbon Capture and Storage projects located in Australia and other countries in the Asia Pacific region.

According to the companies, the main objective of the Memorandum Of Understanding is to evaluate the feasibility of the Carbon Capture and Storage value chain, including capture of Carbon Dioxide 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 Carbon Dioxide storage sites in other countries in the Asia Pacific region.