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Carbon Capture & Storage

Chevron and JERA sign MoU to explore CCS projects

Chevron and JERA sign MoU to explore CCS projects
At the MoU signing on March 7, 2023, Chris Power (left) VP of Carbon Capture Utilization and Storage, Chevron, and Gaku Takagi, Executive Officer and Head of the Resource Procurement & Investment Division JERA (photo courtesy Chevron).

In the United States (US), Chevron New Energies (Chevron), a division of Chevron U.S.A. Inc., and Japan-headed energy utility JERA Co., Inc. (JERA) have signed a Memorandum of Understanding (MoU) that provides a framework for their collaboration on carbon capture and storage (CCS) projects located in the United States and Australia.

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This MoU has the potential to expand the significant liquid natural gas (LNG) relationship that Chevron and JERA have today and further demonstrates the commitment and dedication both companies have to advancing lower carbon solutions.

We have a long-standing LNG relationship with JERA that continues to progress, with the intent of bringing affordable, reliable, and ever-cleaner solutions to our customers. We have deep experience and capability in the subsurface and are actively developing CCS projects around the world. We understand that without long-term relationships like the one we have with JERA, we wouldn’t be able to develop these resources and move at the pace we have been moving to further our energy transition goals, said Chris Powers, VP of Carbon Capture Utilization and Storage at Chevron.

This MoU furthers the collaboration between the companies in the lower carbon space, following the November 2022 announcement of their collaboration on the potential co-development of lower carbon fuel in Australia and the study of liquid organic hydrogen carriers (LOHC) in the United States.

Under its ‘JERA Zero CO2 Emissions 2050’ objective, JERA has been working to reduce CO2 emissions from its domestic and overseas businesses to zero by 2050. JERA and Chevron have worked together to bring stable and reliable LNG to our customers over the years, and this CCS collaboration further demonstrates our strong commitment to advancing lower carbon solutions. Chevron brings significant expertise and experience in the CCS business, so we look forward to working together as we aim to transition to a decarbonized society, said Gaku Takagi, Executive Officer and Head of the Resource Procurement & Investment Division of JERA.

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