Press Release

Press Release

Chubu Electric Power signs MOU with Santos Ltd of Australia on comprehensive cooperation for decarbonization

October 18, 2024
Chubu Electric Power Co.,Inc.

Chubu Electric Power Co., Inc. ("Chubu") has agreed to comprehensively cooperate with Santos Ltd ("Santos") in the field of decarbonization and signed a memorandum of understanding ("MOU") with the company today.
The purpose of this MOU is to advance the pathway to lower emissions throughout the region and the world by combining the decarbonization projects that both companies have been working on. Going Forward, both companies will proceed with the following initiatives based on this MOU.

1. Study on CCS supply chain from Nagoya Port to the Moomba CCS Project in Australia

Santos is currently proceeding with the construction of the Moomba CCS Project, a large-scale CCS project that will convert depleted gas fields in the Cooper Basin in central Australia into CO2 storage sites.
Chubu is moving ahead with CCUS initiatives with the aim of decarbonizing the area around Nagoya Port.
The two companies will conduct a feasibility study on the transportation of CO2 from Nagoya Port to the Moomba CCS Project, including methods and costs.

2. Study of the use of renewable energy technology and resources and other decarbonization projects in the Cooper Basin

The Cooper Basin has world class renewable energy resources. Santos and Chubu will consider further use of renewable energy such as geothermal power to supply energy for the decarbonization projects that Santos is developing in the Cooper Basin.

Chubu will continue to work with a diverse range of business partners to promote various initiatives aimed at achieving a decarbonized society.

[Reference 1] Location and Moomba CCS site

Location Photo of Moomba CCS site

[Provided by Santos]

[Reference 2] Santos Overview

Company name

Santos Ltd

Key people

Kevin Gallagher

Founded

March 1954

Headquarters

Adelaide, South Australia, Australia

Primary Business Activities

Exploration, development, production, and sales of oil and natural gas in Australia, Papua New Guinea, Alaska and Timor Leste.

[Reference 3] Chubu Overview

Company name

Chubu Electric Power Co., Inc.

Key people

Kingo Hayashi

Founded

May 1951

Headquarters

Nagoya, Aichi, Japan

Primary Business Activities

Renewable energy business, Nuclear power business, Overseas business, Community support infrastructure related business, Etc.

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