Japan has announced its goal to become carbon neutral by 2050, and the need for measures toward carbon neutrality and decarbonization has increased considerably. The oil and gas development industry should continue to play an important role of a stable supply of energy to Japan while facing the demands of the international community for decarbonization. CCS technology, which is important for decarbonization, is a field of expertise for the oil and gas development industry.
The core technologies of CCS have been developed at JOGMEC over many years, including underground assessment technologies for CO2 storage stability and long-term behavior, and optimization technologies for CO2 separation, capture, and injection systems. JOGMEC has promoted CCS, such as through conducting research projects, based on the needs of Japanese companies. However, due to the amendment of the JOGMEC Law in November 2022, financial support such as investment equity capital and liability guarantees has also become possible. We aim to contribute to achieving carbon neutrality in Japan through these efforts.
To accelerate the efforts toward carbon neutrality, in April 2021, JOGMEC announced the Carbon Neutral Initiative, which consists of three basic policies and a specific action plan; and the initiative has been revised in line with the enforcement of the revised JOGMEC Law. Please refer to the related information below.
Hydrogen and CCS Project Department