Responsibilities and challenges of JAPEX as a comprehensive energy company for the realization of a carbon-neutral society

Abstract

JAPEX formulates "JAPEX2050", which provides an outline of the responsibilities and challenges that JAPEX, as a comprehensive energy company, must take on in order to achieve the goal of net-zero CO₂ emissions by 2050 worldwide. Recognizing that oil and natural gas will remain as one of the major energy sources worldwide, JAPEX aims to supply oil and natural gas by combining carbon dioxide capture and storage/carbon dioxide capture, utilization and storage（CCS/CCUS）with expanding renewable energy, in order to achieve a carbon-neutral society. JAPEX realizes CCS/CCUS is expected to be the game changer for net CO₂ emissions reductions. JAPEX targets early implementation and commercialization of CCS/CCUS, and JAPEX launches CCS/CCUS prototype projects by hub and cluster model, which is CCS/CCUS networks that link multiple CO₂ emission sources and CO₂ storage sites including carbon recycling business, in Japan by 2030. JAPEX utilizes existing oil and gas fields in addition to deep saline aquifers as CO₂ storage sites. For overseas, JAPEX plans to participate in CCS/CCUS projects in systematically advanced areas such as North America and Europe, and participate in feasibility studies on CCS/CCUS in emerging countries. From a technical perspective, CCS, especially Storage, can gain benefit from technologies developed in oil and gas industries. The concept of enhanced storage capacity can be recognized as an analogy to enhanced oil recovery.