Chevron, JERA to collaborate on CCS in US, Australia

US major Chevron and Japanese power company JERA said March 7 they had signed a memorandum of understanding (MOU) to pursue collaboration on carbon capture and storage (CCS) projects in Australia and the US.

The MOU will build on the extensive relationship Chevron has with JERA in the LNG space, and demonstrates the commitment of both to advancing lower carbon solutions, Chevron said. In November 2022, the two announced a collaboration to develop lower-carbon fuels in Australia and study liquid organic hydrogen carriers in the US.

“We have a long-standing LNG relationship with JERA that continues to progress, with the intent of bringing affordable, reliable, and ever-cleaner solutions to our customers,” said Chris Powers, vice president of carbon capture utilisation and storage at Chevron. “We have deep experience and capability in subsurface and are actively developing CCS projects around the world. We understand that without long-term relationships like the one we have with JERA, we wouldn’t be able to develop these resources and move at the pace we have been moving to further our energy transition goals.”

Gaku Takagi, executive officer and head of JERA’s resource procurement and investment decision, said JERA has been working to reduce CO₂ emissions from its domestic and overseas businesses to zero by 2050.

“JERA and Chevron have worked together to bring stable and reliable LNG to our customers over the years, and this CCS collaboration further demonstrates our strong commitment to advance lower carbon solutions,” he said. “Chevron brings significant expertise and experience in the CCS business, so we look forward to working together as we aim to transition to a decarbonised society.”