Mitsui & Co. has joined Thailand’s first carbon capture and storage (CCS) project at the Arthit gas field in the Gulf of Thailand, operated by PTT Exploration and Production Public Company Limited (PTTEP). The initiative aims to begin operations in 2028 and is designed to store up to 1 million tons of CO2 annually.
Mitsui participates through its wholly owned subsidiary Mitsui Oil Exploration Co. (MOECO), which in turn holds a 4.76% stake in the project via MOECO Thailand Co., Ltd.
The Arthit gas field currently supplies about 8% of Thailand’s domestic natural gas demand, making it a key energy hub for the country.
Advancing Low-Carbon Energy in Southeast Asia
The project marks a significant milestone in Thailand’s efforts to achieve carbon neutrality while maintaining energy security. For Mitsui, it represents an important step toward its own net-zero target by 2050.
In 2022, Mitsui and MOECO were selected for a support program by Japan’s Ministry of Economy, Trade and Industry (METI) – the “FY2022 Infrastructure Development Survey Project for Bilateral Credit Acquisition” – which explored the feasibility of CCS implementation in Thailand.
The findings from that study have now informed the decision to move forward with the Arthit CCS project.
The initiative demonstrates a high degree of technical and economic feasibility, enabling carbon storage without disrupting existing gas production.
It also strengthens regional collaboration on carbon reduction under Japan’s Joint Crediting Mechanism (JCM) framework, which facilitates technology transfer and credit sharing between partner countries.
Since its founding in 1969, MOECO has played a key role in offshore exploration and production in Thailand. Its long-term partnership with PTTEP underpins this new phase of cooperation focused on carbon management rather than extraction.
Together with its subsidiaries and partners, Mitsui aims to leverage decades of upstream expertise to accelerate CCS deployment across Asia, contributing to a more sustainable and stable energy supply chain.
