Shell inks decarbonization deals with Japanese LNG buyers

A unit of LNG giant Shell has signed deals with its long-standing Japanese liquefied natural gas buyers Tokyo Gas and Osaka Gas to boost decarbonization efforts.

Under the separate non-binding memorandums of understanding (MOUs), Shell Eastern Petroleum would collaborate with both companies to explore potential opportunities to accelerate decarbonization across their respective production value chains, according to a statement on Monday.

The agreements include assessing a range of potential solutions including hydrogen, carbon capture, utilization and storage (CCUS), biomethane and renewables-based synthetic gas among others.

In addition, Shell, Tokyo Gas and Osaka Gas signed a tripartite side letter to jointly explore and evaluate the potential of renewables-based synthetic gas, the statement said.

Shell’s target is to become a net-zero emissions energy business by 2050.

This means offering customers more low-carbon products and Shell is working to build scale in decarbonization technologies globally.

Shell has been delivering LNG to Japan for over 50 years and it already works with the two Japanese firms on addressing emissions from the LNG value chain.

Tokyo Gas has been receiving LNG cargoes with carbon offsets from Shell since June 2019, while Osaka Gas received the first such cargo in July 2021.

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