BAKU, Azerbaijan, October 21. INPEX CORPORATION has entered into an agreement with Chubu Electric Power Co., Inc. (Chubu Electric Power) to conduct a joint study on the feasibility of creating a Carbon Capture and Storage (CCS) value chain, TurkicWorld reports via INPEX.
The study will focus on capturing CO2 emissions in Japan and transporting it from the Port of Nagoya in Aichi Prefecture to Australia for storage. The agreement was signed through INPEX’s subsidiary, INPEX Browse E&P Pty Ltd.
This initiative builds on INPEX’s greenhouse gas storage assessment permit awarded in 2022 for the Bonaparte Basin off the northwestern coast of Australia. The project, a collaboration with TotalEnergies CCS Australia Pty Ltd and Woodside Energy Ltd, aims to commence CO2 injection by around 2030. It is expected to be a cornerstone of the proposed Darwin-based carbon capture, utilization, and storage (CCUS) Hub, a major initiative by the Northern Territory Government. INPEX’s Ichthys LNG project is anticipated to be a key user of this CCS solution as it works to reduce its greenhouse gas emissions.
INPEX is committed to reshaping the energy landscape to support a net zero carbon society by 2050, while addressing global energy demands. As part of its Long-term Strategy and Medium-term Business Plan, announced in February 2022, the company has positioned CCUS as one of its five key areas for achieving net zero emissions. INPEX aims to inject at least 2.5 million tons of CO2 annually by around 2030, striving to become a leader in the CCS industry through continuous technical development and commercialization efforts.
