Woodside Energy has signed a non-binding memorandum of understanding with Kansai Electric Power Company (Kepco) to study a potential carbon capture and storage (CCS) value chain between Japan and Australia.
Japanese utility Kepco plans to research the capture of carbon dioxide emitted from its thermal power plants and its transport to Australia.
Woodside, which is progressing CCS projects in Australia, will study the injection and storage of CO2 delivered from Japan, as well as the potential production of synthetic methane.
The MoU outlines a generic value chain study of the end-to-end technical and commercial factors, with the aim of creating a future CCS value chain between the two countries. The studies include an evaluation of storage opportunities in some of Australia’s offshore basins.
Woodside executive vice president Shaun Gregory said the MoU reflects the increasing demand for large-scale decarbonisation solutions from the company’s Asia-Pacific partners.
“CCS has the potential to provide a pathway for Woodside’s customers and value chain participants in the region to decarbonise their own industrial emissions,” he said.
“Australia, with its unique geology and offshore storage potential, has an opportunity to play a role in this emerging market, supporting the broader Asia-Pacific region in their climate goals and net-zero aspirations.”
