BP Berau Ltd. (bp) and Chubu Electric Power Co. Inc. have expanded their collaboration to explore a carbon capture and storage (CCS) value chain between Japan's Port of Nagoya and the Tangguh field in Papua Barat, Indonesia. This follows the successful completion of the Nagoya CCS feasibility study earlier this year.
The new memorandum of understanding (MoU) broadens the scope of their previous agreement, signed in September 2023. The updated MoU includes evaluations of cost optimization and business models necessary to develop commercial CCS projects from Nagoya to Tangguh.
Kathy Wu, BP’s regional president for Asia Pacific, Gas, and low carbon energy, and Hiroki Sato, division CEO of blobal business at Chubu Electric, signed the MoU amendment at the Asia Zero Emission Community (AZEC) Ministerial Meeting in Jakarta.
“The MoU amendment marks the continuation of an impactful collaboration between Chubu and bp, together with our Tangguh partners,” Wu said. “As the community engages at AZEC and finds a way to support Asia's net zero agenda, this collaboration showcases our part of the works in progressing decarbonization in the Asia region.”
The expanded agreement will also cover legal requirements for large-scale CCS hubs, business models, and optimizations of infrastructure for CO2 liquefaction and shipping.
The Port of Nagoya, Japan's largest in terms of cargo volume, is responsible for 3% of the country's total CO2 emissions and has set a target to reduce emissions by 46% by FY2030 compared to FY2013.
