US supermajor Chevron has teamed up with Japan’s Mitsui OSK Lines (MOL) to study the feasibility of transporting liquefied carbon dioxide from Singapore to permanent storage locations offshore Australia.
Under the joint study agreement (JSA) signed on Thursday in the Lion City between Chevron New Energies International and MOL, the duo will explore the technical and commercial feasibility of initially transporting up to 2.5 million tonnes per annum of liquefied CO2 by 2030.
The JSA will complement work to be advanced by the recently formed consortium of Chevron, Keppel Infrastructure, Air Liquide and Sinopec to explore solutions for large-scale carbon capture, transport and permanent storage of CO2 from Singapore.
This consortium intends to research, test and develop technological, logistical and operational solutions for carbon capture, utilisation and storage in Singapore. In doing so, the consortium will look to provide industrywide CCUS integrated infrastructure, primarily to support the energy and chemicals sector, by capturing and aggregating CO2 from large industrial emitters at a centralised collection facility.
Meanwhile, via its participation in three joint ventures, Chevron was also recently granted an interest in three greenhouse gas assessment permits offshore Australia.
“Developing safe and reliable CO2 transportation services is a crucial step in developing large scale CCUS solutions. We are pleased to partner with MOL to explore commercially ready solutions to focus on realising this goal,” said Mark Ross, president of Chevron Shipping Company.
Collaboration required to unlock opportunities
“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,” added Chris Powers, vice president, CCUS, Chevron New Energies.
“As a developer and a provider of social infrastructure service in addition to traditional shipping, MOL is honoured and excited to have an opportunity to collaborate with Chevron for opening up CCUS solutions in the Asia Pacific region. We hope to expand our collaboration to wider areas of solutions for decarbonisation including CCUS and renewable energies globally,” commented MOL executive officer, Yasuchika Noma.