Japanese companies, including Japan Petroleum Exploration Co (JAPEX), JGC Holdings Corp, and Kawasaki Kisen Kaisha (K Line), have entered into an agreement with Malaysian energy firm Petronas. The project, slated to commence capturing its first carbon dioxide (CO2) emissions by the end of 2028, aligns with Japan's commitment to achieving carbon neutrality by 2050.
Japan's comprehensive strategy to combat climate change involves not only the development of renewable and alternative energy sources but also emphasizes the pivotal role of CCS technology. JAPEX, alongside JGC Holdings Corp and K Line, aims to undertake the CCS project in collaboration with Petronas, a state-controlled energy company.
According to a statement by JAPEX, the companies intend to initiate the front-end engineering design in the coming year. The project's primary objective is to inject and store CO2 from both Japan and Malaysia in depleted oil and gas fields off the Malaysian coast.
While no specific cost estimate was provided, JAPEX outlined ambitious targets for CO2 injection. The initial phase is set to commence with at least 2 million metric tons of CO2 per year, with plans to scale up to 5 million tons annually by the end of this decade. The long-term vision involves exceeding 10 million tons in the early 2030s.
Earlier this year, Japan established a comprehensive roadmap for CCS, setting a target of achieving annual CO2 storage capacity in the range of 6-12 million tonnes by 2030. The CCS technology employed in such projects effectively removes CO2 emissions from the atmosphere and securely stores them underground.
This collaborative venture reflects Japan's commitment to leveraging international partnerships and cutting-edge technologies to meet its climate goals. As the global community intensifies efforts to address climate change, initiatives like these underscore the significance of cross-border collaboration in achieving sustainable and low-carbon solutions.
