Woodside, a prominent oil and gas company, has announced its collaboration with Kansai Electric Power Co (KEPCO), a Japanese company, in an effort to advance carbon capture and storage (CCS) initiatives. The two companies have signed a non-binding memorandum of understanding (MoU), paving the way for studies on a potential CCS value chain connecting Japan and Australia.
The MoU entails KEPCO’s research into carbon dioxide (CO2) capture from its thermal power plants and exploring transportation options to Australia. Woodside, on the other hand, will focus on studying the injection and storage of CO2 delivered from Japan, as well as the potential production of synthetic methane.
This collaborative effort aims to conduct a comprehensive evaluation of the technical and commercial aspects of a future CCS value chain between Japan and Australia. The studies will also include an assessment of storage opportunities in Australian offshore basins.
Woodside’s Executive VP, Shaun Gregory, emphasized that the MoU reflects the increasing demand for large-scale decarbonization solutions from their industry partners in the Asia-Pacific region. He stated that CCS has the potential to provide a pathway for Woodside’s customers and other participants in the region to reduce their industrial emissions.
Gregory further highlighted the unique geological advantages and offshore storage potential in Australia. The country has an opportunity to play a significant role in supporting the climate goals and net zero aspirations of the broader Asia-Pacific region.
By collaborating on CCS projects, Woodside and KEPCO aim to contribute to the global efforts to combat climate change and promote sustainable practices within the energy sector. The studies conducted under this MoU will play a crucial role in developing a potential CCS value chain between Japan and Australia, ultimately driving the transition toward a low-carbon future.
As the demand for decarbonization solutions continues to grow, it is encouraging to see industry leaders like Woodside and KEPCO actively working together to explore innovative technologies and strategies. Their partnership holds great promise in addressing the challenges of reducing carbon emissions and advancing sustainable practices in the energy sector.
