Woodside Energy signed a non-binding memorandum of understanding (MOU) with three Japanese companies to enable studies of a potential carbon, capture, and storage (CCS) value chain between Japan and Australia.
Under the MOU, Sumitomo Corp., Toho Gas Co. Ltd., and Kawasaki Kisen Kaisha Ltd. will study the capture, storage, and transportation of carbon dioxide (CO2) emissions by industry in the Chubu region of Japan. Woodside will conduct the study of injection and storage of the CO2 at unspecified Australian storage sites, the company said in a release Sept. 12.
The news follows signing of a separate non-binding MOU with Kansai Electric Power Co. (KEPCO) under which KEPCO plans to research the capture of CO2 emitted from its thermal power plants and its transport to Australia. Woodside is progressing CCS projects in Australia and will conduct the study of injection and storage of CO2 delivered from Japan as well as the potential production of Synthetic Methane (e-methane), Woodside said in a release Sept. 7.
The Japanese government has set a goal of reducing overall greenhouse gas (GHG) emissions to net zero by 2050 and implemented a policy to develop a business environment to initiate CCS projects by 2030.