Energy major Chevron will partner with Japan’s Mitsui O.S.K. Lines (MOL) to study the potential for transporting liquefied carbon dioxide (LCO2) from Singapore to be stored in permanent subsea locations offshore Australia.
Having signed a Joint Study Agreement (JSA) today (10th Nov), subsidiary company Chevron New Energies International (Chevron) and MOL aim to explore the technical and commercial feasibility of transporting up to 2.5m tonnes per annum (Mtpa) of LCO2 by 2030.
The partnership will complement a landmark deal signed last September which saw the formation of a carbon capture, utilisation and sequestration (CCUS) solutions consortium in Singapore.
With a focus on reducing emissions across hard-to-abate areas of industry such as energy and chemicals, the consortium also aims to study the potential for utilising captured CO2 to make products such as plastics, fuels and cement, or to be transported by pipelines or ships to underground reservoirs in the Asia Pacific (APAC) region.
Commenting on the JSA, Mark Ross, President of Chevron Shipping Company, called the development of a CO2 transportation service a ‘crucial step’ in advancing large-scale CCUS solutions.
“We are pleased to partner with MOL to explore commercially-ready solutions to focus on realising this goal,” he added.
Chevron was also recently granted an interest in three greenhouse gas assessment permits offshore Australia. The blocks total more than 31,500km2 or nearly 7.8m acres – an area larger than Belgium.
Having started up a CCS scheme at its mega gas project Gorgon in Western Australia in 2019, Chevron came under fire earlier this year for failing to meet carbon capture targets at the site.
After having been given a target by the WA government to capture at least 80% of the CO2 from the gas produced at the $3bn Gorgon project, Chevron admitted in July last year that it had fallen 5.23m tonnes short, according to figures obtained by the Guardian.