Japan Petroleum Exploration (JAPEX) and Invest Alberta Corporation (IAC), an investment attraction agency established by the government of Alberta, Canada, have formed a partnership seeking to develop projects in carbon capture and storage (CCS), carbon capture, utilization and storage (CCUS), bioenergy with CCS and blue hydrogen/ammonia areas.
JAPEX and IAC signed a memorandum of understanding (MoU) which entails support for JAPEX’s business development toward an environmentally sustainable society in the Province of Alberta, Canada.
Under the MoU, the parties will work jointly on potential projects of JAPEX in Alberta, leveraging JAPEX’s experience in petroleum exploration, production, and CCS/CCUS.
On the other hand, Invest Alberta will support JAPEX with its knowledge of the local market and investment landscape.
Tomomi Yamada , Executive Management Officer, President of Overseas Business Division II, JAPEX, said: “We are very excited to start working together with Invest Alberta. JAPEX had a very long-standing history of business in Alberta in the areas of oil sands (as an operator) and natural gas.
“We are now aiming to come back to Alberta and contribute to its decarbonization, using our expertise and experiences gained through the participation in CCS demonstration project in Japan by investing in the project company and extensive E&P businesses in Japan as well as overseas.”
Rick Christiaanse , Invest Alberta CEO, commented: “Invest Alberta is honoured to partner with JAPEX to help the company seize the opportunities that Alberta offers to investors. As Canada’s energy capital, Alberta has a skilled workforce and renowned researchers capable of advancing major projects forward in a welcoming business environment. JAPEX is a strong and valuable partner for Alberta, bringing extensive experience in the energy sector and a shared dedication to achieving net-zero through environmentally sustainable projects.”