Chevron New Energies (Chevron) – the division of Chevron U.S.A. Inc. that focuses on low carbon energy solutions, and Japanese energy company JERA Co. Inc. are advancing their collaboration to work on low emissions projects.
They have signed a memorandum of understanding (MoU) to explore carbon capture and storage projects in the US and Australia. The MoU provides a framework for their collaboration and has the potential to expand the significant liquid natural gas (LNG) relationship that Chevron and JERA already have.
Relevant: Chevron And JERA Will Collaborate On Clean Tech In The US And Asia
Back in November 2022, the two companies announced a collaboration on varied opportunities covering the development and commercialization of technologies like carbon capture, utilization and storage (CCUS), and hydrogen in the US and Asia.
“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,” commented Chris Powers, Vice President of Carbon Capture Utilization and Storage at Chevron.
JERA and Chevron have been working together to bring stable and reliable LNG to clients, and the implementation of carbon capture and storage will help reduce the emissions of using natural gas in the economy. Chevron has substantial CCS experience due to its Gorgon carbon capture and storage project in Australia that started operations in 2019.
Relevant: Chevron Project Gorgon Meets Just 30% Of CO2 Target
Oil and gas companies continue to build upon relationships with partners to advance the deployment of low-carbon energy solutions. Carbon capture and storage is an important technology that can support the decarbonization of fossil fuel plants in the medium-term, while hydrogen is a long-term zero emissions solution for the net zero economy that eliminates the use of fossil fuels.
