PERTH (miningweekly.com) – Oil and gas major Woodside will collaborate with Japanese company Kansai Electric Power Co (KEPCO) on carbon capture and storage (CCS).
The two companies have inked a non-binding memorandum of understanding (MoU) that will enable studies of a potential CCS value chain between Japan and Australia.
Under the MoU, KEPCO plans to research the capture of carbon dioxide (CO2) emitted from its thermal power plants and its transport to Australia. Woodside is progressing CCS projects in Australia and will conduct the study of injection and storage of CO2 delivered from Japan as well as the potential production of synthetic methane (e-methane).
The MoU outlines a generic value chain study, that will consider the end-to-end technical and commercial factors with the aim of progressing a future CCS value chain between Japan and Australia.
Woodside said on Thursday that the studies include an evaluation of storage opportunities in some of Australia’s offshore basins.
Woodside executive VP Shaun Gregory said the MoU reflected the increasing demand for large-scale decarbonisation solutions from Woodside’s industry partners in the Asia-Pacific region.
“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.”