Chevron, through its Chevron New Energies business, and Japan’s JERA are collaborating on multiple lower carbon opportunities – including production; carbon capture, utilisation and storage; and new technology commercialisation – focused on the US and Asia Pacific regions.
The companies have signed a Joint Study Agreement to explore the potential co-development of lower carbon fuel in Australia and will conduct a feasibility study expected to be completed in 2023. Lower carbon fuel supplies to be produced in the region would seek to leverage Chevron’s liquefied natural gas and carbon capture and storage knowledge and experience.
Investments in hydrogen
As part of their focus across the hydrogen value chain – including production, export and transportation – the duo will also study liquid organic hydrogen carriers (LOHC) in the US.
Chevron said that LOHC has the potential to enable efficient hydrogen transport and long duration energy storage applications, essentially using hydrogen as a battery to deliver lower carbon energy on demand. As part of their focus on LOHC, Chevron and JERA have both invested in Germany’s Hydrogenious LOHC Technologies.
“Chevron and JERA have worked together to bring affordable and reliable energy to our customers in the form of LNG, and we are excited about the opportunity to further build upon this relationship as we identify opportunities to provide ever-cleaner energy,” said Jeff Gustavson, president of Chevron New Energies.
“Partnership is critical to achieving lower carbon goals and we believe Chevron has the people, assets, and customers to help drive solutions across the globe.”
JERA corporate vice president Yukio Kani said: “We believe that strengthening our cooperation with Chevron will not only expand business opportunities for both companies but also contribute to the stable supply of energy in Asia Pacific and the US to transition to a decarbonised society.”
JERA is 50:50 joint venture between Japan’s Tokyo Electric Power Company (Tepco) and Chubu Electric Power.
- Oil giants should grasp wheels of change as COP27 approaches
- Lessons learned: Chevron looks forward after Gorgon CCS shortfalls
- Jera launches international competitive tender for low-carbon ammonia supply
- Japan's JERA purchases additional interest in Freeport LNG for $2.5bn
- Chevron to invest A$40m to offset Gorgon CO2 shortfall