Japan’s Inpex Corporation and Kanto Natural Gas Development have established a joint venture (JV) to accelerate research and planning in relation to a carbon capture and storage (CCS) project commissioned by the Japan Organization for Metals and Energy Security (JOGMEC).
According to Inpex, the newly established Metropolitan CCS JV will be the “core” company responsible for the transportation and storage portion of the CCS value chain in the Metropolitan Area CCS project.
The scope of work of the new company–85% owned by Inpex and 15% by Kanto Natural Gas–encompasses technical evaluation, including CO2 storage assessment and the study of potential routes for pipeline installation, as well as business evaluation.
This follows a consignment contract for the project that the new JV partners and Nippon Steel Corporation concluded with JOGMEC in the second half of 2024.
The project will entail the collection of CO2 emitted from Nippon Steel’s East Nippon Works in the Kimitsu area and multiple industries in the Keiyo Industrial Region, both situated in the Chiba Prefecture. The CO2 will then be transported via large-capacity pipelines and stored beneath the sea off the prefecture’s eastern coast.
The JV is slated to conduct research and planning aimed at commercialization to contribute to the country’s decarbonization efforts in collaboration with Japan Steel Corporation. As disclosed, the latter will be responsible for CO2 capture and separation.
This is in line with the new business strategy Inpex presented its Vision 2035 . Among other things, the Japanese firm designated lower-carbon solutions leveraging CCS and hydrogen as one of its three growth pillars.