Japan Launches Govt-Led Panel on CO2 Storage

   Tokyo, Nov. 26 (Jiji Press)--Japan has launched a government-led panel to commercialize carbon capture and storage, or CCS, projects by 2030, including by creating a common standard for ships carrying liquefied carbon dioxide and developing tanks to store liquefied CO2.
   CCS projects, in which large amounts of CO2 emitted during the production of steel and chemical products are transported by ship and stored underground, are seen as key to achieving decarbonization in high-emitting industries such as steel, chemical and cement.
   In Asia, depleted gas fields in Malaysia and Indonesia are likely candidate sites for underground storage. While South Korea and Singapore are also planning to transport CO2 to these countries, Japan is eager to take the initiative, including by creating a common standard for transport ships through public-private cooperation.
   Members of the government-led panel include not only shipbuilders and shipping companies, but also CO2-emitting companies, such as Mitsubishi Heavy Industries Ltd., Nippon Yusen K.K., Nippon Steel Corp. and Taiheiyo Cement Corp.
   Establishing a common standard is likely to lead to "realizing CCS value chains and improving economic efficiency," said an official of a major shipbuilder among the panel members.

(2024/11/26-19:05)

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