Chevron Corporation, through its Chevron New Energies International subsidiary, and MOL, announced the signing of a Joint Study Agreement (JSA) on the feasibility of transporting liquified carbon dioxide (CO2) from Singapore to permanent storage locations offshore Australia.
Under the JSA, 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 JSA 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.
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.
