US energy firm Chevron and Japan’s Mitsui OSK Lines (MOL) have announced a partnership to explore shipping liquefied CO2 from Singapore to permanent storage locations offshore Australia.
Under the joint study agreement (JSA), the companies will explore the technical and commercial feasibility of initially transporting up to 2.5 million tonnes per annum of liquefied CO2 by 2030.
The announcement follows Chevron recently being granted an interest in three greenhouse gas assessment permits offshore Australia, through its part in three joint ventures.
Chris Powers, Vice President, CCUS, Chevron New Energies said: “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.”