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Chevron and Mitsui partner for CO2 storage

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Meenal Datar

Membership specialist

Multinational energy company, Chevron Corporation (as Chevron New Energies) and Japanese transport company, Mitsui O.S.K. Lines (MOL) have announced the signing of a joint study agreement (JSA) for the feasibility of transporting liquified carbon dioxide (CO2) from Singapore to permanent storage locations offshore Australia.

Under the JSA, Chevron and MOL will explore the technical and commercial feasibility of initially transporting up to 2.5 million tonnes per annum (mtpa) of liquified CO2 by 2030.

Chris Powers, vice president, CCUS, Chevron New Energies says: ‘We expect this agreement with MOL to advance the technical and commercial foundations for a regional approach to CCUS, which could provide progress toward the region’s net-zero ambitions. No single entity has all the solutions, but genuine collaboration can help us unlock opportunities as we advance our shared goal of a lower carbon future.’

‘As a developer and a provider of social infrastructure service in addition to traditional shipping, MOL is honoured and excited to have an opportunity to collaborate with Chevron for opening up CCUS solutions in the Asia Pacific region. We hope to expand our collaboration to wider areas of solutions for decarbonization including CCUS and renewable energies globally,’ adds Yasuchika Noma, executive officer of MOL. 

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