Chevron, Japan's MOL to study CO2 transportation from Singapore to Australia
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This is the latest foray by Chevron into carbon capture and storage.
PHOTO: REUTERS
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SINGAPORE - Chevron Corporation and Japan’s Mitsui O.S.K. Lines (MOL) have signed an agreement to study the feasibility of transporting liquefied carbon dioxide from Singapore to permanent storage locations offshore of Australia.
Chevron New Energies International, the United States oil major’s subsidiary, and MOL will explore the technical and commercial feasibility of initially transporting up to 2.5 million tonnes per annum of liquefied carbon dioxide by 2030, Chevron said in a statement on Thursday.
It is the latest foray by Chevron, which last year set a target to cut operational emissions to net zero by 2050, into carbon capture and storage.
In September, Chevron, Air Liquide, Keppel Infrastructure and PetroChina signed a memorandum of understanding to evaluate and advance the development of large-scale carbon capture, utilisation and storage (CCUS) solutions and integrated infrastructure in Singapore.
“We expect this agreement with MOL to advance the technical and commercial foundations for a regional approach to CCUS, which could provide progress towards the region’s net-zero ambitions,” said Mr Chris Powers, vice-president for CCUS at Chevron New Energies.
Chevron, through its affiliate Chevron Australia, is also part of joint ventures that have been granted an interest in three permits to assess carbon storage offshore of Australia, it announced in September.
The offshore blocks, off Western Australia and the Northern Territory, total nearly 3.2 million ha in size.
Last month, a unit of global oil major Shell signed a memorandum of understanding with Brunei Shell Petroleum to explore carbon transport and storage options in Brunei and Singapore.
Shell Eastern Petroleum and its Brunei counterpart will evaluate the technical and commercial feasibility of carbon storage options in Brunei Darussalam and carbon transport solutions from Singapore. REUTERS, THE BUSINESS TIMES
