Nippon Steel inks MoU with Mitsubishi and ExxonMobil to establish CCS value chain in Asia-Pacific region

Friday, 27 January 2023 14:41:00 (GMT+3)   |   Istanbul

Japanese steelmaker Nippon Steel Corporation has announced that it has signed a memorandum of understanding with Japan’s Mitsubishi Corporation and Singapore-based ExxonMobil Asia-Pacific to jointly study carbon capture and storage (CCS) and the establishment of potential CCS value chains in the Asia Pacific region.

The three companies will conduct research on the capture of carbon emissions from Nippon Steel’s domestic steelworks and evaluate the necessary infrastructure development required, with a view to establishing CCS value chains in the Asia-Pacific region. It would also include a detailed evaluation of Asia-Pacific storage opportunities, including in Malaysia, Indonesia and Australia.

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