8th Sep 2022 09:51
(Alliance News) - Mitsui & Co Ltd and Shell PLC on Thursday said they have signed a pact to explore the feasibility of carbon capture and storage in the Asia Pacific region, including Japan.
The two will explore the conditions and policies needed to develop CCS, and evaluate options for owning and chartering ships designed to carry liquid carbon dioxide.
"Working with companies like Mitsui, we want to help unlock the potential of CCS in Asia Pacific, including Japan. This agreement is another step in that journey and supports our ambition of having access to at least 25 million tonnes a year of CCS capacity by 2035," said Syrie Crouch, vice president of Carbon Capture & Storage at Shell.
Shares in Mitsui closed up 1.6% at JPY3,206 in Tokyo on Thursday. Shell shares were up 0.6% at 2,275.50 pence in London.
By Lucy Heming; [email protected]
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