ENEOS, JX Nippon, Mitsubishi Corporation and PETRONAS to Evaluate and Establish CCS Value Chains from Tokyo-Bay to Malaysia
JX Nippon Oil & Gas Exploration Corporation
Mitsubishi Corporation
PETRONAS CCS Solutions Sdn Bhd
ENEOS | Separation and capture of CO2 emitted from refineries, CO2 accumulation, liquefied CO2 transport, value chain construction, government engagement |
JX Nippon | Development and evaluation of CCS storage sites in Malaysia (including securing storage sites and cost adequacy) |
Mitsubishi Corporation | CO2 accumulation, liquefied CO2 transport, value chain construction, government engagement |
PCCSS | CO2 storage at CCS storage sites in Malaysia, liquefied CO2 transport, Malaysian government engagement |
Company Name | ENEOS Corporation |
Head Office | 1-2, Otemachi 1-chome, Chiyoda-ku, Tokyo |
Representative | Tomohide Miyata, Representative Director |
Business Profile | Refining and sales of petroleum products (gasoline, kerosene, lubricants, etc.) Import and sales of gas Manufacture and sales of petrochemical products Supply of electricity and hydrogen |
Decarbonization initiatives | In the Carbon Neutrality Plan announced in May 2023, we aim to start a CCS business by fiscal 2030 in order to achieve our CO2 emission reduction target, and aim to commercialize 20 million tonnes of CCS per year by fiscal 2040 as a means to reduce CO2 emissions by ourselves and other companies. In addition, Japan Organization for Metals and Energy Security (JOGMEC) adopted us as one of the contractors of the "Survey on the Implementation of Advanced CCS Projects in fiscal 2023 (CCS off northern Kyushu and off western Kyushu)” in August 2023, and we are accelerating the study of development of CCS value chains. |
Company Name | JX Nippon Oil & Gas Exploration Corporation |
Head Office | 1-2, Otemachi 1-chome, Chiyoda-ku, Tokyo |
Representative | Toshiya Nakahara, President and CEO |
Business Profile | Exploration and development of petroleum, natural gas and other mineral resources Extraction, processing, storage, sale and transportation of petroleum, natural gas and other mineral resources and their by-products |
Decarbonization Initiatives | Under the philosophy established in May 2023, the CCS business is regarded as an important initiative in the company-wide strategy, and we have formulated a roadmap to implement CCS by 2030 and to achieve more than 50 million tonnes of CO2 underground storage per year by 2050. In addition, Japan Organization for Metals and Energy Security (JOGMEC) adopted us as one of the contractors of the "Survey on the Implementation of Advanced CCS Projects in fiscal 2023 (CCS off northern Kyushu and off western Kyushu)” in August 2023, and we are accelerating the study of development of CCS value chains. |
Company Name | Mitsubishi Corporation |
Head Office | 2-3-1 Marunouchi, Chiyoda-ku, Tokyo |
Representative | Katsuya Nakanishi, President and CEO |
Business Profile | 10 groups of natural gas, integrated materials, chemical solutions, metal resources, industrial infrastructure, automotive and mobility, food industry, consumer industry, electric power solutions, and complex urban development, plus industrial DX and next-generation energy divisions. |
Decarbonization Initiatives | Energy Transformation (EX) is positioned as an important initiative in the Roadmap for a Carbon-Neutral Society formulated in October 2021 and the Medium-Term Management Strategy 2024 announced in May 2022. In CCS, we conduct extensive business verification of decarbonization of existing natural gas businesses, CO2 storage for blue products, and CCS for industry. In addition, Japan Organization for Metals and Energy Security (JOGMEC) adopted us as one of the contractors of the "Survey on the Implementation of Advanced CCS Projects in fiscal 2023 (Ise-bay to Oceania CCS)” in August 2023, and we are accelerating the study of development of CCS value chains. |
Company Name | PETRONAS CCS Solutions Sdn Bhd (“PCCSS”) |
Head Office | Tower 1, PETRONAS Twin Towers, Kuala Lumpur City Centre, 50088, Kuala Lumpur. |
Representative | Chief Executive Officer, Nora’in Binti Md Salleh |
Business Profile | Management and conduct of Carbon Capture and Storage (CCS) business activities for PETRONAS. |
Decarbonization Initiatives | Its responsibility is to streamline the management of CCS for the whole of PETRONAS, and is expected to bring greater focus on driving decarbonisation at pace in pursuit of PETRONAS’ Net Zero Carbon Emission by 2050 (NZCE). |
Materiality
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”.






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