Mitsubishi Corp. has agreed with Exxon Mobil Corp. and Japan's biggest steelmaker Nippon Steel Corp. to consider a carbon capture and storage (CCS) project, a spokesperson at the trading house said on Jan. 25.
The three companies signed a memorandum of understanding on Jan. 25 to start discussions toward building value chains for overseas underground storage of CO2 emitted by Japanese steel plants, the spokesperson said.
Nippon Steel is considering capturing CO2 emissions from its local steel mills for underground storage at facilities linked to Exxon in countries including Australia, Malaysia and Indonesia, the Nikkei business daily reported on Jan. 25.
Mitsubishi would handle transportation, such as by shipping liquefied CO2 to depleted gas fields and other storage sites using specialised vessels, the Nikkei said.
"What has been reported is correct," the Mitsubishi spokesperson said, but declined to comment further.
Cutting carbon emissions from steelmaking, which accounts for about 7% to 9% of global CO2 emissions, is a key effort in the fight against climate change.
A spokesperson for Nippon Steel confirmed that it was considering the project with the two companies, but declined to elaborate.
Exxon was not immediately available for comment.
Tech Over Trial-and-Error: Improving Near-Well Bore Completions
2023-01-27 - Drill2Frac’s FlowFX solution helps fine-tune completion designs by modeling parameters such as the number of perf clusters and length of stages.
E&P Highlights: Jan. 26, 2023
2023-01-26 - Here’s a roundup of the latest E&P headlines including a production update from Tullow, an update on U.K. offshore opportunities and some contract announcements in the upstream oil and gas industry.
Intelligent Completions: Sensing Through Cement
2023-02-03 - Miniature quartz gauge measures reservoir conditions through cement in real time.
Killshot Eliminates Fluid Swaps at Completion
2023-02-22 - The tool also prevents the ESP from falling downhole if it comes loose during operation or removal.
E&P Highlights: March 20, 2023
2023-03-20 - Here’s a roundup of the latest E&P headlines, including a Black Sea discovery and new contract awards in the upstream oil and gas industry.