SK E&S Strengthens CCS Cooperation with Chevron

Source: www.gulfoilandgas.com 5/24/2022, Location: North America

SK E&S decided to lead global carbon reduction by strengthening cooperation with Chevron, a global energy company, to create a carbon storage and capture (CCS) ecosystem.

SK E&S announced on the 24th that it had signed a Joint Collaboration Agreement (JCA) with Chevron, a major US energy company, during the 'WGC2022 (World Gas Congress)' held in Daegu.

At the signing ceremony, SK E&S President Choo Hyung-wook, Chevron Supply & Trading President John Kuehn, and Chevron Global Gas President Freeman Shaheen participated in the signing ceremony to promote a genuine carbon reduction project in all energy industries, including the LNG value chain. agreed to

To this end, SK E&S and Chevron will form a related organization between the two companies to share the progress of the CCS project and continue to exchange technology and policy-related information for successful CCS project promotion.

In addition, the two companies will preemptively conduct technology and economic evaluations of potential CCS projects to enhance their understanding of the global CCS project and jointly seek opportunities to participate.

According to the company, the agreement between the two companies was born out of concerns about finding a more realistic way to be carbon neutral as an energy company. SK E&S is participating in the world's largest CCS project in the US, and is promoting low-carbon LNG production by applying CCS to the development of natural gas fields in Australia. Meanwhile, Chevron also announced a plan to develop a CCS hub with an annual capacity of 25 million tons to accelerate its low-carbon business.

“It is a well-known fact that CCS is necessary for carbon neutrality, but as it costs a lot of money, major energy companies need to play a responsible role,” SK E&S President Choo Hyeong-wook said. Through this agreement, we will make continuous and steady efforts to reduce carbon.”

“Carbon capture and storage is critical to achieving the Paris Agreement’s Net Zero goal, and Chevron is committed to unlocking CCS opportunities worldwide,” said John Kuehn, General Manager of Chevron Supply & Trading. “I look forward to working with Chevron and SK E&S to discover potential opportunities,” he said.


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