Transborders Energy (Transborders) is pleased to announce that it has executed Joint Study Agreements with JX Nippon Oil & Gas Exploration Corporation (JX NOEX) and Toho Gas Co. Ltd. (Toho Gas) to co-develop deepC Store.
deepC Store will consist of capturing CO2 from industrial sources in Australia and the Asia-Pacific region, shipping of liquid CO2 from capture sites to a CO2 Floating Storage and Injection (FSI) hub facility in offshore Australia, and a CO2 injection well for storage in a subsurface storage complex in close proximity to the FSI hub facility.
Transborders Energy is pleased to announce that it has signed separate Joint Study Agreements with JX NOEX and Toho Gas, with both parties bringing significant experience and expertise to develop deepC Store including those as potential CO2 suppliers and prospective investors for deepC Store.
Through the Joint Study Agreements, Transborders will collaborate with JX NOEX and Toho Gas to perform the following activities with the existing partners Commonwealth Scientific and Industrial Research Organisation (CSIRO), Kyushu Electric Power, Mitsui O.S.K. Lines, Osaka Gas and Osaka Gas Australia, Tokyo Gas Australia, Technip Energies and Add Energy Group:
Conduct technical Pre-FEED for deepC Store;
Evaluate and select deepC Store’s CO2 injection site; and
Pre-negotiate key commercial terms that would enable deepC Store including arrangements for CO2 supply, deepC Store EPC, operations and financing.
Transborders Chairman Jack Sato said, “We are very pleased to get JX NOEX and Toho Gas on board as partners to our deepC Store. In addition to our existing partners, participation of JX NOEX and Toho Gas, who lead the Japanese energy industry, will further endorse Transborders’ business model and development of deepC Store. Further, these valued partnerships demonstrate our commitment to carbon abatement, and to advance Australia’s strategic position in the Asia-Pacific region.”
JX NOEX Senior Vice President, Tetsuo Yamada said, “We believe Carbon Dioxide (CO2) Capture, Utilization and Storage (CCUS) will play an important role in the realization of carbon neutrality and are delighted to be part of deepC Store. JX NOEX has established proven track records in several CCUS projects, such as a CO2-EOR pilot test in Vietnam and the Petra Nova CCUS Project utilizing CO2 captured from a thermal power plant in Texas, U.S.A. We are confident we can make a significant contribution to the project by closely working together with Transborders and the partners.”
Toho Gas Senior Managing Executive Officer, Nobuyuki Masuda said, “In order to contribute to achieve a carbon neutral society, we did believe that CCUS would be a key technology and already conducted research and development from early stage. As we continue to enhance our technological expertise, we are delighted to participate in deepC Store. We will contribute to the success of this project through collaboration with Transborders and the partners.”
The goals of the deepC Store align with the Australian government’s Low Emissions Technology Statement (LETS), with carbon capture and storage being identified as one of the five priority technologies to reduce emissions from energy, transport, agriculture and heavy industry.