JX Nippon, DeepC Store bid for carbon capture off Australia
SUMMARY
According to JX Nippon, the area is suitable site for CO₂ storage.
By Shardul SharmaJX Nippon Oil & Gas Exploration and DeepC Store (DCS) have submitted a joint bid for a permit to assess the greenhouse gas storage (GHG) potential of acreage offshore Australia, the Japanese company said on March 16.
According to JX Nippon, the area in question is suitable site for the storage of CO₂, which is set to be captured from industrial sources in Australia, Japan and the Asia-Pacific region and shipped as liquefied form to the site. It will then be regasified and injected through wells for storage in a subsurface storage complex in close proximity to the hub facility.
Through a joint study agreement, JX Nippon has been collaborating with DCS to perform a feasibility study for capturing and transporting liquefied CO₂ to an offshore floating carbon dioxide capture and storage (CCS) hub project.
DCS specialises in developing multiple CCS projects and generating material quantities of carbon credits.
Australia’s peak oil and gas industry body Appea last week said there has been strong interest in acreage releases for new CCS opportunities off Western Australia and the Northern Territory.
