Australian-based CO2CRC, a world leader in carbon capture, utilisation and storage research, is forming deeper international ties to advance the implementation of CCUS technologies with the announcement today of its newest member, Japan's INPEX.
INPEX is Japan's largest exploration and production energy company and one of the leading LNG producers in the Asia-Pacific region with a pledge to be net-zero by 2050.
CO2CRC CEO, Matthias Raab welcomed INPEX to the organisation, noting the company is exploring the opportunity for large scale commercial carbon capture and storage (CCS) in the Bonaparte Basin off the northwest coast of Australia with joint venture participants TotalEnergies and Woodside Energy, both existing members of CO2CRC.
"We are delighted to have such a strong industry leader join CO2CRC and contribute to our research and development program," Dr Raab said.
"Australia and Japan have a long and trusted trade relationship and INPEX's membership further strengthens this international partnership."
"CCS has the potential to create a new wealth-generating industry for Australia, breathe new life into existing industries and underpin the development of new energies such as hydrogen and direct air capture."
"Australia has the potential to be a leader in CCS, built on the availability of vast, high quality storage reservoirs; the technology, expertise and infrastructure of the energy industry; and a strong reputation for the integrity of our environmental regulation, carbon accounting and financial services."
INPEX Vice President Corporate Bill Townsend says INPEX is focused on developing, producing and delivering energy in a sustainable way and the successful deployment of carbon capture and storage is critical to that objective.
"By collaborating with CO2CRC, we are furthering our commitment to CCS as a vital emissions reduction technology which will support INPEX's goals of Net Zero by 2050."
CO2CRC operates the Otway International Test Centre in southwest Victoria, where it has safely and permanently stored and monitored carbon dioxide in a variety of rock formations for more than a decade. The research is done in collaboration with leading national and international researchers alongside industry partners to accelerate commercial technology solutions.
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