INPEX Forms JV for Greater Tokyo CCS Project

INPEX Corp. and Kanto Natural Gas Development Co. Ltd. have established a joint venture (JV) to accelerate research and planning for a carbon capture and storage (CCS) project planned to serve industrial emitters in the Greater Tokyo Area.

The JV, called Metropolitan CCS Ltd., will be the “core company tasked with technical evaluation, including CO2 [carbon dioxide] storage assessment and the study of potential routes for pipeline installation, as well as business evaluation”, INPEX said in an online statement.

The Japanese international oil and gas exploration and production company owns 85 percent of Metropolitan CCS. Kanto Natural Gas Development, based in Chiba Prefecture’s Mobara City, holds 15 percent. Metropolitan CCS is based in Chiba City.

Also part of the project is Nippon Steel Corp., which is tasked with the capture and separation components and whose emissions will be captured and sequestered by the project, according to INPEX.

Last year INPEX, Kanto Natural Gas Development and Nippon Steel completed an agreement with the Japan Organization for Metals and Energy Security (JOGMEC) to proceed with the subsequent phase of a feasibility study conducted 2023 by JOGMEC for the project.

“The project will involve studying the feasibility of capturing CO2 emitted from Nippon Steel’s East Nippon Works Kimitsu Area and multiple industries in the Keiyo Industrial Zone in the Tokyo metropolitan area, transporting the CO2 through pipelines and storing the CO2 off the East Coast of the Boso Peninsula in Chiba Prefecture (Offshore saline aquifer)”, said a joint press release August 30, 2024.

“Each company will leverage its respective technological capabilities and knowledge to jointly conduct studies and surveys in each segment of the CCS value chain, including CO2 separation, capture, transportation and storage toward the commercialization of CCS”.

Under its business plan through 2035 Inpex has set lower-carbon solutions leveraging CCS and hydrogen as one of its growth pathways. It aims to attract third-party emitters.

Nippon Steel, meanwhile, sees CCS as a key technology in reaching its goal of carbon neutrality by 2050.

The project is among 7 proposals selected by JOGMEC in 2023 to be advanced for commercial scale-up to help Japan achieve carbon neutrality by 2050. Through the 7 projects, the East Asian country aims to install a CO2 storage capacity of about 13 metric tons a year by 2030, according to a statement by the Economy, Trade and Industry Ministry June 13, 2023.

To contact the author, email jov.onsat@rigzone.com

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