Chevron (CVX), JX Team Up for CCS Value Chain Development [Yahoo! Finance]
Chevron Corporation (CVX)
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Source: Yahoo! Finance
Understanding (MOU). This MOU sets the stage for a comprehensive evaluation of exporting carbon dioxide (CO2) from Japan to Carbon Capture and Storage (CCS) projects, particularly those located in Australia and various other countries within the Asia Pacific region. The Objective: Evaluating the CCS Value Chain At the core of this agreement lies the intention to meticulously assess the feasibility of the CCS value chain. This entails the capture of CO2 emissions from industries in Japan, including those affiliated with JX, followed by transportation via ship to Chevron's portfolio of greenhouse gas storage facilities in Australia. The collaboration also aims to delve into the formulation of transboundary policies and explore the potential establishment of CO2 storage sites across the Asia Pacific region. A Vision for the Future Chris Powers, vice president of Carbon Capture, Utilization, and Storage (“CCUS”) at Chevron, expressed anticipation regarding the partnership with JX
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