INPEX signed an agreement with Chubu Electric Power to research feasibility for the development of Japan-Australia CCS Value Chain through its affiliate INPEX Browse E&P.

The research is intended to study feasibility to realize the CCS value chain business for the separation/recovery of CO2 discharged in Japan for transportation from Nagoya Port to Australia and then underground storage there.

In 2022, INPEX obtained a GHG assessment area located at the Bonaparte Sedimentary Basin of north-west off the Northern Territory of Australia with Total Energy CCS Australia and Woodside Energy.

The three partners are considering the CCS business aiming first at the reduction of CO2 by the Ichthys LNG Project being operated by INPEX. The project is planned to start pressing into operation in 2030 or around.

On the other hand, Chubu Electric Power has posted a target to a Net-zero emission of CO2 all over the business by 2050. To this end, the company is actively proceeding with researching for the CCUS project in order to decarbonize the area in and around the Port of Nagoya.