Apr 2, 2024

Mitsubishi UBE Cement Corporation (“MUCC”, Head Office: Chiyoda-ku, Tokyo; President: Makoto Koyama) has concluded a memorandum of understanding with Mitsui & Co., Ltd. (“Mitsui”, Head Office: Tokyo; President and CEO: Kenichi Hori) to undertake joint studies with the aim of establishing a carbon capture and storage (CCS) value chain that will include the capture and transportation of CO₂ and its storage at an offshore storage site in Malaysia, which Mitsui is jointly developing with Malaysia’s state-owned oil company and a global multi-energy company.

Mitsui is jointly developing offshore CCS in Malaysia with PETRONAS CCS Solutions Sdn Bhd, an affiliate of the Malaysian state-owned oil company Petroliam Nasional Berhad, and the global multi-energy company, TotalEnergies. The plan calls for the launch of a storage business by around 2030. [1]

The offshore CCS business that Mitsui is developing in Malaysia aligns with MUCC’s ambitions to achieve carbon neutrality by 2050 and, on the way to that goal, a 40% reduction in CO₂ emissions by 2030 (vs. 2013), which is the interim target under the company’s medium-term management strategy, Infinity with Will 2025 — MUCC Sustainable Plan 1st Step.

The joint studies will research and evaluate the CCS value chain that spans from the separation, capture, liquefaction, and temporary storage of CO₂ emitted at MUCC’s Ube Cement Plant, to the transportation and storage of the liquefied CO₂ for permanent geological storage offshore Malaysia.

MUCC will be responsible for separation, capture, liquefaction, temporary storage, and shipment of CO₂ emitted at MUCC’s Ube Cement Plant, and the studies will include verification of the technical requirements and cost evaluation of the value chain.

By carrying out these joint studies, MUCC will investigate the early implementation of CCS and strive to become an industry leader in carbon neutrality by taking on the challenge of new initiatives in collaboration with local governments and other industries.

[1] Reference

Press release issued by Mitsui on June 27, 2023