MOL and Chevron study CO2 transport to Australia
ENERGY Chevron and Mitsui OSK Lines have agreed to study the feasibility of shipping liquefied carbon dioxide to Australia.
Chevron New Energies International signed a joint study agreement with MOL on Thursday, November 10.
As part of the agreement, the companies plan to explore the technical and commercial feasibility of transporting liquefied gas from Singapore to permanent storage sites offshore Australia.
Chevron and MOL said they initially plan to transport up to 2.5 million tonnes of liquefied CO2 per year by 2030.
MOL Managing Director Yasuchika Noma said the company is “honoured and delighted” to work with Chevron to open up CCUS opportunities in the Asia-Pacific region.
“We hope to expand our collaboration to broader areas of solutions for decarbonization, including CCUS and renewable energy globally,” he said.
Chevron Shipping Company President Mark Ross said developing safe and reliable CO2 is important for large-scale carbon capture, utilization and storage (CCUS).
“We are excited to partner with MOL to explore commercial-ready solutions to focus on achieving this goal,” said Ross.
And Chris Powers, vice president, CCUS at Chevron New Energies, said the company expects the agreement with MOL to advance the technical and commercial foundation for a regional approach to CCUS.
“No single entity has all the solutions, but true collaboration can help us unlock opportunities as we move toward our shared goal of a low-carbon future,” Mr. Powers said.
Chevron said the study will complement work being undertaken by a new consortium including Chevron, Air Liquide, Keppel Infrastructure and PetroChina.
The consortium is exploring solutions for large-scale carbon dioxide capture, transport and permanent storage from Singapore.
Chevron also said it recently obtained an interest in three greenhouse gas assessment permits offshore Australia.
According to the company, its interests are in two permits in the Carnarvon Basin off the northwest coast of Western Australia and one in the Bonaparte Basin off the Northern Territory.