Chevron business unit Chevron New Energies and Japanese utility Jera have agreed to collaborate on low-carbon opportunities including hydrogen and carbon capture, utilisation, and storage (CCUS) with a focus on the US and the Asia-Pacific region.
The firms will explore the potential of co-developing "lower carbon fuel" in Australia by leveraging on Chevron's knowledge and experience in LNG and CCUS, Chevron said on 7 November. They plan to conduct a feasibility study that will be completed next year.
The firms will also study liquid organic hydrogen carriers (LOHC) in the US as part of a broader focus on hydrogen production, export and transportation. Both firms are part of a group of companies investing in German engineering firm Hydrogenious LOHC Technologies that has been building LOHC storage plants. The group also includes Singapore's state-controlled investor Temasek, Japanese trading house Mitsubishi and South Korean automaker Hyundai.
Jera has become more involved in decarbonisation efforts at home and overseas. The power utility recently launched a new battery storage system with Japanese carmaker Toyota. Jera and Singapore port operator Jurong Port are looking to develop a power plant that runs completely on ammonia.
Chevron formed its New Energies unit last year to scale up opportunities in the net zero market. The unit already has a framework agreement to explore CCUS opportunities in the US midcontinent.
