MOL, Chevron to explore CO2 shipping from Singapore to Australia
Oil major Chevron Corporation, through its Chevron New Energies International Pte subsidiary, and Japanese shipping firm Mitsui O.S.K. Lines (MOL) have inked a Joint Study Agreement to explore the feasibility of transporting liquified carbon dioxide from Singapore to permanent storage locations offshore Australia.
Under the agreement, Chevron and MOL will explore the technical and commercial feasibility of initially transporting up to 2.5 million tonnes per annum (Mtpa) of liquified CO2 by 2030.
The agreement 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.
The granted permits are for Block G-10-AP which will be assessed by Chevron Australia and its joint venture partners BP Developments Australia, Japan Australia LNG (MIMI), Shell Australia and operator Woodside Energy.
Other permits are for Block G-9-AP, granted to a joint venture between Chevron Australia and Santos Offshore, while Block G-11-AP will be developed jointly by Chevron Australia, Santos Offshore as the operator, with an affiliate of SK E&S.
“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,” said Mark Ross, president of Chevron Shipping Company.
“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, CCUS, Chevron New Energies added.
“We hope to expand our collaboration to wider areas of solutions for decarbonization including CCUS and renewable energies globally,” concluded Yasuchika Noma, Executive Officer of MOL.