Japan’s Inpex is teaming up with the Northern Territory government to establish a multi-user carbon capture and storage (CCS) hub in the Australian state.

Inpex has signed a statement of commitment to a net zero emissions future with the government of the Northern Territory — where its Ichthys liquefied natural gas project’s onshore liquefaction plant is located — with the objective of transitioning to a net zero emissions future and establishing new economic and social developments “within a competitive environment”.

The parties are set to negotiate on five business targets:

  • Increasing LNG production capacity and expanding the onshore production facilities at Bladin Point near the state capital Darwin;
  • Creating the CCS hub at the Middle Arm Sustainable Development Precinct — a hub covering approximately 1500 hectares proposed by the NT government to enhance low-carbon industries and economic growth, which includes Bladin Point;
  • Establishing renewable energy targets, technology, and electrification as well as nature-based solutions to support a net zero society by 2050;
  • Increasing a stable and clean energy supply and security for the Asia-Oceania region and strengthen; and
  • Increasing local skills development, and service and supply capabilities by supporting Territory businesses and people.

Inpex said that it aims to be a company” rich in vitality, creativity and diversity, and capable of sustainable development by maintaining a stable energy supply based on thoroughly making its oil and gas business cleaner”.

“We will proactively engage in energy structure reforms towards the realisation of a net zero carbon society while fulfilling its responsibilities for the stable development and supply of energy,” added the Japanese company.