Electric Power Development Co., Ltd. (J-Power) has forged a strategic alliance with Australian carbon capture and storage innovators, deepC Store and Azuli, through a joint study agreement. This partnership aims to harness the potential of carbon capture and storage (CCS) technology to reduce emissions in Japan, Australia, and the surrounding region.
The Australian duo has secured two greenhouse gas assessment permits for the Bonaparte and Browse Basins, located approximately 200-250 kilometers off Australia’s Northwest coast. These permits, also known as GHG acreages, have the potential to permanently store up to 1 billion metric tons of carbon dioxide (CO2).
J-Power plans to become a joint venture participant in the GHG acreages and will contribute funding to the joint study. In return, the Japanese utility will secure rights to a participating interest in the venture developing the GHG acreages.
The trio envisions a comprehensive project that will capture CO2 emissions from various locations in Japan, Australia, and the surrounding region. The captured CO2 will then be liquefied and transported by ship to floating storage and injection facilities in Australian waters.
Australia, a leading exporter of liquefied natural gas (LNG), is investing in CCS technology to decarbonize its industries and sustain LNG production growth. This collaboration aligns with Australia’s goals, catering to the demands of key markets like Japan and South Korea.
