Japan’s Marubeni, Bison to develop Canadian CCS project

: Emissions, Hydrogen
23/07/14

Japanese trading house Marubeni will develop a carbon capture and storage (CCS) project in Alberta, Canada with Canadian private-sector firm Bison Low Carbon Ventures.

Marubeni has signed a share subscription agreement with Bison but declined to comment on how much it will invest and the number of shares it will purchase. This is the first time a Japanese firm will be involved in any commercial CCS projects in Canada, Marubeni said.

Bison is developing the Meadowbrook CCS project near Edmonton at Alberta, targeting for a CO2 storage capacity of 3mn t/yr. The company is unclear about the timeline for the target, which would depend on a detailed evaluation process.

But Bison plans to start detailed geological evaluation work such as drilling, as well as detailed formation evaluation, in the second half of 2023, aiming to begin storage operations in late 2024. The company will gradually expand to full capacity, as market demand for sequestration services develops.

Marubeni will use its expertise in CCS and its networks as a trading company to further the project, as well as support the procurement of necessary materials and equipment, it said.

The project is expected to transport and store CO2 emitted from the Alberta Industrial Heartland area and industries within its proximity. The project would also contribute to creating new industries for blue hydrogen and ammonia production, Marubeni said.

The Japanese firm is mulling selling potentially issuable carbon credits from the project to Japanese companies. Marubeni could explore the possibility of exporting CO2 from Japan to store it at Meadowbrook.

The move to establish a CCS value chain is gaining momentum in Japan, as the island country with few natural resources will have to continue using fossil fuels to pursue its economic growth even with a decarbonisation drive.

By Motoko Hasegawa

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25/12/19

Australia needs electricity carbon policy: Commission

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US House passes bill to expedite permitting

25/12/18

US House passes bill to expedite permitting

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2026 set to be among 4 hottest years: UK Met Office

25/12/18

2026 set to be among 4 hottest years: UK Met Office

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Denmark pledges $9.5bn over 15 years for climate goals

25/12/18

Denmark pledges $9.5bn over 15 years for climate goals

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N Zealand proposes ETS governance penalties

25/12/18

N Zealand proposes ETS governance penalties

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