Chevron, MOL to Study CO2 Shipping from Singapore to Australia
(P&GJ) — Chevron Corp. has signed joint study agreement with Mitsui O.S.K. Lines Ltd. (MOL) to study the feasibility of transporting liquified carbon dioxide (CO2) from Singapore to permanent storage locations offshore Australia.
“Developing safe and reliable CO2 transportation services is a crucial step in developing large scale carbon capture, utilization, and storage solutions,” Mark Ross, president of Chevron Shipping Co., said. “We are pleased to partner with MOL to explore commercially-ready solutions to focus on realizing this goal.”
Under the agreement, Chevron and MOL will explore the technical and commercial feasibility of initially transporting up to 2.5 million tonnes per annum of liquified CO2 by 2030.
“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,” Chris Powers, vice president of CCUS at Chevron New Energies, said.
The JSA will complement work to be advanced by a recently announced consortium to explore solutions for large-scale carbon capture, transport and permanent storage of CO2 from Singapore. Through its part in three joint ventures, Chevron was also recently granted an interest in three greenhouse gas assessment permits offshore Australia.
“As a developer and a provider of social infrastructure service in addition to traditional shipping, MOL is honored 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 decarbonization including CCUS and renewable energies globally,” Yasuchika Noma, executive officer of MOL, said.
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