The government is planning to expand its financial support to Japanese companies investing in pipeline projects overseas including the Middle East, as part of efforts to strengthen alternative oil and gas transportation routes in the Gulf region to bypass the Strait of Hormuz.
“In connection with this, JOGMEC commissioned a survey on the implementation of advanced CCS projects in 2023, and engineering and design work for advanced CCS projects in 2024, both of which were jointly undertaken by the parties”, INPEX said in an online statement. “Through these commissioned projects, the parties conducted feasibility studies on CO2 separation, recovery, transportation and storage in the initial phase, and basic engineering and design for the entire CCS value chain and appraisal of CO2 storage potential in the subsequent phase.