Japanese firms explore carbon exports to Australia
Mitsui OSK Lines and JX Nippon Oil eye shipments to South Australia as cross-border emissions trade routes in Asia-Pacific open up
Shipping company Mitsui OSK Lines (MOL) and Japan’s JX Nippon Oil & Gas Exploration have signed a memorandum of understanding to potentially capture CO₂ from industrial emitters in Japan for shipment to storage sites in Australia, creating a cross-border CCS value chain. The agreement focuses on the capture of emissions from refineries and other industrial sites in Japan. Liquid CO₂ would then be transported by carrier to the deepwater Port of Bonython in South Australia for injection into storage. MOL will select a liquefied CO₂ carrier suitable for conditions at ports in Japan and Australia, and define the distance, volume and estimated costs of shipping. JX Nippon will manage the cost
Also in this section
25 April 2024
Carbon capture rates forecast to rise steadily from end of decade, but policy tools to drive large-scale deployment have yet to take shape, according to DNV
23 April 2024
Europe must unlock cross-border CO₂ trade if it wants to build a viable CCS sector for the long term
16 April 2024
US and European oil majors snap up smaller players and look to accelerate development in a region deemed to possess all the key elements for successful CCUS deployment
15 April 2024
Demand for credits seen rising 20% this year despite issues around integrity and standardisation