Chevron Corporation, through its Singapore subsidiary Chevron New Energies International Pte. Ltd. subsidiary, and Mitsui O.S.K. Lines, Ltd. (MOL) announced the signing of a Joint Study Agreement (JSA) on the feasibility of carrying liquefied carbon dioxide (CO2) from Singapore to permanent storage areas offshore Australia.
Chevron and MOL will investigate the technical and commercial viability of initially shipping up to 2.5 million tonnes per annum (Mtpa) of liquified CO2 by 2030 under the JSA.
In a statement, Chevron said the JSA would supplement studies being done by a recently announced consortium to investigate large-scale carbon collection, transport, and permanent storage of CO2 from Singapore. Chevron was recently given an interest in three greenhouse gas assessment licences offshore Australia through its participation in three joint ventures.
“Developing safe and reliable CO2 transportation services is a crucial step in developing large-scale Carbon Capture, Utilization, and Storage (CCUS) solutions. We are pleased to partner with MOL to explore commercially-ready solutions to focus on realizing this goal,” Chevron Shipping Company President Mark Ross said.
According to Chevron New Energy CCUS Vice President Chris Powers, they anticipate that the agreement with MOL will advance the technological and commercial foundations for a regional approach to CCUS, which may contribute to the region’s net zero objectives. Powers stated that there is no single entity that has all of the solutions, but genuine collaboration may help in unlocking potential as work towards the common objective of a lower-carbon future gets underway.
“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,” said Yasuchika Noma, Executive Officer of MOL.
 announced the signing of a Joint Study Agreement (JSA) on the feasibility of carrying liquefied carbon dioxide (CO2) from Singapore to permanent storage areas offshore Australia.){kind=link}