Japan’s LNG trader and power generation firm, Jera, and US energy giant Chevron have signed a memorandum of understanding to work on carbon capture and storage (CCS) projects located in the US and Australia.
Chevron New Energies, a division of Chevron, and Jera signed the deal, according to a joint statement on Wednesday.
“This memorandum has the potential to expand the significant LNG relationship that Chevron and Jera have today, and further demonstrates the commitment and dedication both companies have to advancing lower carbon solutions,” the statement said.
Prior to this deal, Jera and Chevron announced in November 2022 that the two firms will collaborate in production, carbon capture, utilization, and storage, and new technology ventures focused on the US and Asia Pacific region.
Jera and Chevron are already partners in the latter’s Gorgon and Wheatstone LNG export projects in Australia.
“We have deep experience and capability in subsurface and are actively developing CCS projects around the world,” Chris Powers, VP of carbon capture utilization and storage at Chevron, said in the statement.
“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,” he said.
Gaku Takagi, executive officer, head of the resource procurement and investment division of Jera, said that the two firms “worked together to bring stable and reliable LNG to our customers over the years, and this CCS collaboration further demonstrates our strong commitment to advance lower carbon solutions.”