Japan’s Ministry of Industry announced on Jan. 26 it will establish a target of annual carbon capture and storage capacity of 6-12 million metric tons by the end of the decade. The plan is part of a long-term roadmap for carbon capture and storage (CCS) technology in Japan.
The East Asian country considers CCS an essential part of its goal to reach CO2 neutrality by mid-century.
The ministry has estimated that Japan will be storing 120 to 240 million tons of carbon dioxide by 2050. In order to achieve that target, the country will need to increase the annual carbon storage by 6 to 12 million tons per year starting in 2030, while also aiming to decrease carbon separation and recovery costs.
Japan’s government also wants to put legislative frameworks in place to allow companies to establish full-scale carbon capture and storage operations at the start of the next decade.
Oil company Eneos, JX Nippon Oil & Gas Exploration, and Electric Power Development announced last Thursday that they will create a joint venture to speed up preparations for the commercialization of the country’s CCS technology.
The three companies said they aim to implement Japan’s first full-scale carbon capture and storage supply chain by 2030.
Itochu, Mitsubishi Heavy Industries, Inpex, and Taisei also announced they would investigate large-scale CCS value chain opportunities, including ship transportation of carbon emitted from materials and other sectors.
Idemitsu Kosan, Hokkaido Electric Power, and Japan Petroleum Exploration also said they would launch a joint study for implementing CO2 capture.