Japanese Energy Firm Inks Agreement With Chevron on Carbon Capture and Storage Projects in Australia

Chevron New Energies (Chevron), a division of Chevron USA and JERA Co., (JERA) have signed a Memorandum of Understanding (MoU) that provides a framework for their collaboration on carbon capture and storage (CCS) projects located in the United States and Australia.

This MoU has the potential to expand the significant liquid natural gas (LNG) relationship that Chevron and JERA have today and further demonstrates the commitment and dedication both companies have to advance lower carbon solutions. 

This MoU also furthers the collaboration between the companies in the lower carbon space, following the November 2022 announcement of their collaboration on the potential co-development of lower carbon fuel in Australia and the study of liquid organic hydrogen carriers (LOHC) in the United States.

Established in 2015, JERA is an equal joint venture of two major Japanese electric power companies, TEPCO Fuel & Power Incorporated, and Chubu Electric Power Company, and produces about 30% of all electricity in Japan.

Commenting on the MoU Gaku Takagi, Executive Officer, Head of the Resource Procurement & Investment Division of JERA, said: “Under its 'JERA Zero CO2 Emissions 2050' objective, 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. Chevron brings significant expertise and experience in the CCS business, so we look forward to working together as we aim to transition to a decarbonized society.”

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