Japan Australia LNG (MIMI) Pty Ltd (MIMI), which is owned equally by Mitsubishi Corporation (MC) and Mitsui & Co., Ltd, Woodside Energy Ltd (Woodside), BP Developments Australia Pty Ltd (bp), Shell Australia Pty Ltd (Shell) and Chevron Australia Pty Ltd (Chevron), collectively referred to as the Joint Venture, have been awarded the greenhouse gas assessment permit [G-10-AP] (the Permit), located in the Northern Carnarvon Basin off the north-western coast of Western Australia.

 

The permit award represents an important milestone for the Joint Venture as it continues to assess the technical, regulatory and commercial feasibility of capturing carbon emitted by multiple industries located near Karratha in Western Australia. The Joint Venture will now also pursue evaluation and appraisal work to investigate the potential for the geological storage of carbon dioxide in the Permit area.

 

The Permit contains the depleted Angel Gas Field. The size of the CCS facility is subject to the completion of additional technical, regulatory and commercial studies, but notionally it could have a processing capacity of up to 5 million tonnes of carbon dioxide per annum.

 

As underpinned in both Roadmap to a Carbon Neutral Society and Midterm Corporate Strategy 2024, announced in October 2021 and May 2022 respectively, MC is placing greater emphasis on energy transformations (EX). By lowering the carbon footprint throughout the LNG value chain through CCS and other EX initiatives, MC hopes to spearhead future transformations and help societies to decarbonize by providing a stable supply of clean energies.

 

 

 

Based on the Three Corporate Principles, which serve as MC’s core philosophy, MC has continued to grow together with society by contributing to the sustainable development of society through its business activities while pursuing value creation. MC’s revised “Materiality” was announced in Midterm Corporate Strategy 2024 as a set of crucial societal issues that MC will prioritize through its business activities, towards the strategy’s goal of continuous creation of MC Shared Value (MCSV). Guided by this Materiality, MC will continue to strengthen its efforts towards sustainable corporate growth. Out of the six material issues relating to “Realizing a Carbon Neutral Society and Striving to Enrich Society Both Materially and Spiritually”, this project’s activities particularly support “Contributing to Decarbonized Societies” and “Promoting Stable, Sustainable Societies and Lifestyles”.