MOL and JX Collaborate on Japan-Australia Carbon Capture Chain

Mitsui O.S.K. Lines (MOL), a leading Japanese shipping company, and JX Nippon Oil & Gas Exploration Corporation, a fellow Japanese energy firm, have formalized a memorandum of understanding (MoU) to collaboratively develop a comprehensive carbon dioxide capture and storage (CCS) value chain connecting Japan and Australia. This groundbreaking initiative encompasses the marine transport of carbon dioxide, marking a significant stride towards achieving carbon neutrality.

The primary focus of the MoU revolves around the establishment of a CCS value chain designed to capture carbon dioxide emissions originating from the ENEOS refinery and various industries in close proximity within Japan. The envisioned process entails the capture of CO2, transportation via specialized CO2 carriers to the Port of Bonython in Australia, and the subsequent injection and storage of the captured carbon dioxide at a carefully selected storage site. Mitsui O.S.K. Lines will predominantly concentrate on the initial phase, while JX Nippon Oil & Gas Exploration Corporation assumes a pivotal role in the subsequent stages. This collaboration aims to expedite their collective efforts in constructing an effective CCS value chain, contributing significantly to the realization of a carbon-neutral society.

The specifics of the MoU highlight Mitsui's primary responsibility in capturing CO2 emissions, a critical step in the CCS process. Simultaneously, JX Nippon Oil & Gas Exploration Corporation will take charge of the subsequent phases, encompassing the transportation, injection, and storage of the captured carbon dioxide. This strategic division of responsibilities showcases the complementary roles of the two companies, leveraging their respective strengths to ensure the seamless execution of the entire CCS value chain.

Mitsui's proactive approach to carbon management is evident in its previous collaborations. In October of the preceding year, Mitsui partnered with Cosmo Oil, another Japanese company, to explore ocean transport as part of a comprehensive carbon dioxide capture and storage value chain. This broader chain comprises the separation, capture, transport, injection, and storage of CO2 emissions originating from Cosmo Oil's refineries. The synergy between Mitsui and Cosmo Oil highlights the collaborative efforts within Japan to advance sustainable and low-carbon business practices.

The collaboration between Mitsui O.S.K. Lines and JX Nippon Oil & Gas Exploration Corporation exemplifies a proactive and concerted effort to address the challenges posed by carbon emissions. By forging a CCS value chain connecting Japan and Australia, these companies contribute to the global momentum towards carbon neutrality. The envisioned process encompasses every facet of carbon capture, from emission sources to storage sites, exemplifying a holistic approach to sustainable practices.