Japanese companies team up for carbon capture project in Hokkaido

Japan Petroleum Exploration

15/10/2024 07:10

TOKYO, Oct 15 (Reuters) - Japan Petroleum Exploration Co
 1662.T , Idemitsu Kosan Co  5019.T  and Hokkaido Electric Power
Co  9509.T  said on Tuesday they have teamed up to develop a
carbon capture and storage (CCS) facility in northern Japan.
    CCS is part of Japan's goal to reach carbon neutrality in
2050, with projects being studied at home and also with partners
abroad, including in Malaysia. 
    The project, which has a capacity of 1.5 million-2 million
metric tons per year, will be located in the Tomakomai area on
Japan's northern island of Hokkaido, according to the statement.
     The three companies aim to launch the project in 2030, the
statement said. 
    

 (Reporting by Katya Golubkova; Editing by Janane Venkatraman)
 ((jekaterina.golubkova@thomsonreuters.com;))