JFE Steel Corporation, in collaboration with Japan Petroleum Exploration Co., Ltd. (JAPEX), JGC Holdings Corporation (JGC HD), and Kawasaki Kisen Kaisha, Ltd. (“K” LINE), has agreed to conduct a joint evaluation aiming to establish the CCS (Carbon Capture and Storage) value chain originating from Japan. This initiative aligns with their ongoing joint study on CCS in Malaysia with Petroliam Nasional Berhad (PETRONAS), and the companies have signed a Memorandum of Understanding (MOU) to formalize their collaboration.
JAPEX, JGC Corporation (JGC), and “K” LINE have been actively involved in the joint study with PETRONAS, focusing on areas such as identifying suitable CO2 storage sites in Malaysia, technical evaluations, CO2 capture and transport from PETRONAS’ LNG complex in Bintulu, and exploring the potential for transportation from locations outside of Malaysia, including Japan. As part of this study, the companies have also engaged in discussions with potential emitters in Japan regarding CO2 transportation. Through these dialogues, the four companies discovered a shared vision with JFE Steel, which is committed to reducing CO2 emissions from its operations. As a result, the four companies have signed the MOU to conduct the evaluation.
The evaluation will encompass the entire CCS value chain, starting from CO2 separation and capture at JFE’s steelworks, followed by marine transportation of liquefied CO2 to designated receiving points in Malaysia. It will involve estimating the necessary infrastructure and associated costs. The evaluation will also be closely aligned with the study on CO2 receipt and storage in Malaysia conducted with PETRONAS.
Through the establishment of an international CCS value chain as a result of this evaluation, JAPEX, JGC HD, “K” LINE, and JFE Steel aim to contribute to the realization of carbon neutrality by 2050.
JFE Steel Corporation was formed in 2003 through the merger of NKK Corporation and Kawasaki Steel Corporation. The company operates multiple steelworks in Japan and has various branch offices and affiliates worldwide. In the fiscal year ended March 2021, JFE Steel reported consolidated crude steel output of 23.96 mln tons.
