ITOCHU, Mitsubishi Heavy Industries (MHI), INPEX, and Taisei Corporation signed a memorandum of understanding for a joint feasibility study on a large-scale and wide-area carbon capture and storage (CCS) value chain project.
More specifically, the four companies will jointly carry out a study for launching a joint project relating to the separation, capture, ship transportation, and storage of CO2.
The project regards the materials industry and other industries in which it is difficult to achieve decarbonization by electrification, the introduction of hydrogen and other means and conduct a process of selecting prospective sites for CO2 storage in Japan.
MHI has defined the Energy Transition as a growth area that it should address strategically and positioned the building of a CO2 solutions ecosystem as one of the key initiatives in its 2021 Medium-Term Business Plan.
MHI has also positioned carbon dioxide capture, utilization, and storage (CCUS) as an effective means of creating a carbon-neutral society and has delivered CO2 capture plants incorporating its high-performance technology, including one of the world’s largest, to a total of 14 locations around the world.
Meanwhile, it is also developing technologies for large-scale liquefied CO2 carriers to help develop the wide-area CCS value chain project.
