JOGMEC has signed a Memorandum of Understanding (MOU) with the Western Australia State to promote a reliable supply of natural resources to Japan as well as Japanese investment in the WA State.
In accordance with the MOU, JOGMEC will actively share knowledge and opinions regarding oil, gas, hydrogen, ammonia, methane, carbon capture and storage (CCS), and carbon dioxide capture, utilization, and storage (CCUS), as well as actively look for opportunities for future collaboration between Japanese businesses and the WA State.
High potential geological formations for CO2 storage are anticipated in the state of WA, where numerous Japanese corporations are doing feasibility studies on constructing a clean fuel ammonia supply chain from Australia to Japan. Based on this MOU, JOGMEC plans to structure new projects in the WA State, where clean fuel and CCS/CCUS potential are anticipated, and to offer information on the resource policy from the WA State.
In addition, Australia has a well-established certification program for hydrogen and ammonia. Therefore, it is anticipated that both parties would actively discuss the evaluation standards for measuring greenhouse gas emissions, which are prerequisites for projects.
This time, in order to achieve a carbon-neutral society through a steady supply of natural resources and energy, JOGMEC and the WA State have chosen to expand their cooperation in the area of energy resources, including hydrogen and ammonia, CCS, and CCUS. The updated Japan Oil, Gas and Metals National Corporation Act entered into force on November 20, 2022, and this MOU is the first one Australia has signed as the new JOGMEC in the industry.