Marubeni Acquires Share in Ozona's Funded Entity to Participate in the Texas CCS Project

Marubeni has reached an agreement to acquire an interest in a business entity backed by Ozona CCS LLC, which is spearheading a carbon dioxide capture and storage (CCS) project in Texas, USA. Under this agreement, Marubeni will collaborate with Ozona to jointly develop the CCS project in South Texas, taking a significant 50% stake in the initiative.

The project aims to capture CO2 emissions from various gas production and processing facilities in the region, which is known for its active oil and gas exploration and production. The captured CO2 will be transported through dedicated pipelines and stored in saline aquifers located 2 to 3 kilometers underground. This initiative is set to become a pioneering commercial CCS hub in the United States.

Marubeni has established a presence in the upstream shale oil and gas sector in Texas. By merging its development expertise with Ozona’s capabilities—including subsurface evaluations and infrastructure development—the two companies aim to advance the project and plan to reach a final investment decision by the first half of 2025, with commercial operations expected to begin in 2026. Furthermore, Marubeni and Ozona are assessing other ongoing Ozona projects in Texas to explore potential joint development partnerships that could further expand their business interests.

In alignment with global climate goals, the United States aims to cut greenhouse gas (GHG) emissions by 65% by 2030 and achieve net-zero emissions by 2050. The Inflation Reduction Act, enacted in August 2022, is a pivotal measure aimed at supporting CCS implementation as part of broader decarbonization efforts, including the integration of renewable energy sources.

In February 2022, Marubeni unveiled its mid-term management strategy, GC2024, which seeks to position the company as a leader in green business initiatives. This strategy emphasizes strengthening green business operations and promoting sustainability across all sectors. CCS technology is recognized as crucial for achieving global carbon neutrality, and through this project, Marubeni intends to utilize the expertise gained in CCS development to contribute meaningfully to decarbonization efforts both in the United States and globally.

Ozona CCS, LLC, located in San Antonio, Texas, was founded in 2021 and focuses on the development, execution, and operation of carbon capture and storage (CCS) projects. With a strong background in oil and gas development, the company has significant experience in the Permian Basin, Eagle Ford, and Corpus Christi areas. Ozona combines its expertise in subsurface analysis, permitting, and environmental impact assessments with operational capabilities in pipeline management, positioning itself as a key player in advancing sustainable energy solutions.