Woodside Energy and three Japanese companies have signed a Memorandum of Understanding to assess the potential for a carbon capture and storage (CCS) value chain connecting Japan and Australia.
Together with the global energy firm, Sumitomo Corporation, Toho Gas, and Kawasaki Kisen Kaisha will investigate how they can capture, store, and transport the carbon dioxide (CO2) emissions from industrial activities in Chubu, Japan.
Woodside will focus on researching the injection and storage of CO2 at its storage sites in Australia.
Shaun Gregory, Executive Vice-President of Woodside, recognises Japan’s emissions reduction challenges and expresses Woodside’s commitment to supporting neighbouring nations in addressing them.
He added, “Woodside views CCS as an opportunity that will require coordination and collaboration, spanning jurisdictions, government bodies, and industry stakeholders.”
Recently, Woodside signed a Memorandum of Understanding with Kansai Electric Power to explore a CCS value chain that coincided with KEPCO’s announcement that it will research capturing CO2 emissions and transporting them to Australia.
Over the years, Japan has been an important trading partner for Australia. In 2022, Japan ranked as Australia’s second-largest trading partner, with two-way goods trade valued at A$147.1bn.
The Commonwealth Scientific and Industrial Research Organisation (CSIRO) has stated that CCUS (carbon capture, utilisation, and storage) is among the technologies contributing to reducing atmospheric emissions from Australia’s energy sector.
Furthermore, the International Energy Agency acknowledges that CCS and CCUS will play crucial roles in achieving Net Zero emissions by 2050, especially in hard-to-abate industrial sectors.