Following its recent partnership with Kansai Electric Power, Woodside Energy has signed another Memorandum of Understanding (MoU) with three Japanese companies to assess the potential for a carbon capture and storage (CCS) value chain connecting Japan and Australia.
Sumitomo Corporation, Toho Gas, and Kawasaki Kisen Kaisha have joined forces with the global energy firm to study the capture, storage, and transportation of carbon dioxide (CO2) emissions from industrial activities in Japan’s Chubu region.
Woodside will focus on researching the injection and storage of CO2 at its storage sites in Australia.
Shaun Gregory, Executive Vice-President of Woodside, recognises Japan’s emissions reduction challenges and expresses Woodside’s commitment to supporting neighbouring nations in addressing them.
He added, “Woodside views CCS as an opportunity that will require coordination and collaboration, spanning jurisdictions, government bodies, and industry stakeholders.”
Just last week, Woodside signed an MoU with Kansai Electric Power to explore a potential CCS value chain that coincided with KEPCO’s announcement of its intention to research the capture of CO2 emissions from its thermal power plants and their transportation to Australia.
Read more: Woodside and KEPCO to explore Japan-Australia CCS value chain
Japan has been a significant trading partner for Australia for many years. In 2022, Japan ranked as Australia’s second-largest trading partner, with two-way goods trade valued at A$147.1bn.
The Commonwealth Scientific and Industrial Research Organisation (CSIRO) has stated that CCUS (carbon capture, utilisation, and storage) is among the technologies contributing to reducing atmospheric emissions from Australia’s energy sector.
Furthermore, the International Energy Agency acknowledges that CCS and CCUS will play crucial roles in achieving Net Zero emissions by 2050, especially in hard-to-abate industrial sectors.
In support of offshore CCS projects, the Australian government allocated $12m in its May 2023-24 budget to review environmental management regulations and explore ways to enhance regulations.”
CO2 Summit 2023
Shortages and sourcing challenges are the headline stories everyone’s talking about in CO2 supply. But the whole carbon dioxide value chain is transforming – as this story itself demonstrates.
Applications are not only emerging and evolving but demanding more of the industry and its sourcing too. That calls for new thinking in CO2 storage and distribution, but it also raises questions over the tracking and management of supply chains. How we see CO2 is changing, shifting from waste disposal to a value chain in its own right. This will see the tonnage utilisation of CO2 evolve beyond recognition.
Join gasworld this September as our North American CO2 Summit 2023 assesses the threats, challenges and opportunities ahead in carbon dioxide – how we find it, source it, purify it and deliver it. Learn about the changing face of CO2; the opportunities in direct air capture (DAC); supply chain strategies; carbon credits and legislation; and so much more.
Tickets are selling fast and sold-out early last year, so book your place now. For more information and how to attend, visit https://gasworldconferences.com/conference/north-american-co2-summit-2023-indianapolis/
