Chevron New Energies is advancing multiple lower carbon projects in the U.S. and Asia Pacific area through a partnership with JERA, a Japanese joint venture between electric power companies TEPCO Fuel & Power Inc. and Chubu Electric Power Co., the company announced in a press release on Nov. 7.
The partnership intends to explore carbon capture, utilization and storage (CCUS), low carbon production and technology commercialization opportunities throughout the region, Chevron said. The company has worked with the joint venture on energy transition projects in the past, including a hydrogen gas development in the U.S.
RELATED
ConocoPhillips, JERA Propose to Develop US Hydrogen Gas Plant
"Chevron and JERA have worked together to bring affordable and reliable energy to our customers in the form of LNG, and we are excited about the opportunity to further build upon this relationship as we identify opportunities to provide ever-cleaner energy," Chevron New Energies president Jeff Gustavson commented in the release.
"Partnership is critical to achieving lower carbon goals, and we believe Chevron has the people, assets, and customers to help drive solutions across the globe," he added.
As part of the collaboration, the companies will run a feasibility study, to be completed in 2023, to potentially develop lower carbon fuel in Australia. Through a joint study agreement, they hope to employ Chevron's experience in developing LNG and carbon capture solutions, according to the release.
Additionally, the companies intend to jointly study U.S. liquid organic hydrogen carriers (LOHC), which would afford them the ability to use hydrogen as a battery to delivery lower carbon energy and create an efficient hydrogen transportation system.
Both Chevron and JERA have invested in hydrogen company Hydrogenious LOHC Technologies as part of their commitment to focus on LOHC.
"We believe that strengthening our cooperation with Chevron will not only expand business opportunities for both companies but also contribute to the stable supply of energy in Asia Pacific and the U.S. to transition to a decarbonized society," JERA corporate vice president Yukio Kani said in the release.
Recommended Reading
CEO: Continental Adds Midland Basin Acreage, Explores Woodford, Barnett
2024-04-11 - Continental Resources is adding leases in Midland and Ector counties, Texas, as the private E&P hunts for drilling locations to explore. Continental is also testing deeper Barnett and Woodford intervals across its Permian footprint, CEO Doug Lawler said in an exclusive interview.
US Raises Crude Production Growth Forecast for 2024
2024-03-12 - U.S. crude oil production will rise by 260,000 bbl/d to 13.19 MMbbl/d this year, the EIA said in its Short-Term Energy Outlook.
Help Wanted (Badly): Attracting Workers to Energy is Becoming Difficult
2024-03-27 - Attracting workers to the energy industry is becoming a difficult job, despite forecasted growth in the industry.
Chevron Hunts Upside for Oil Recovery, D&C Savings with Permian Pilots
2024-02-06 - New techniques and technologies being piloted by Chevron in the Permian Basin are improving drilling and completed cycle times. Executives at the California-based major hope to eventually improve overall resource recovery from its shale portfolio.
US Drillers Cut Oil, Gas Rigs for Fourth Week in a Row-Baker Hughes
2024-04-12 - The oil and gas rig count, an early indicator of future output, fell by three to 617 in the week to April 12, the lowest since November.