Feb. 14, 2022
Nippon Steel Corporation
NIPPON STEEL CORPORATION (NSC) and deepC Store Limited (deepC Store) are pleased to
announce that the parties have executed a Joint Study Agreement regarding capturing and transporting
liquefied CO2 to deepC Store’s flagship offshore floating CO2 Capture and
Storage (CCS) hub project (CStore1). The agreement provides for the evaluation of the commercial
feasibility for deepC Store to capture and transport between 1 (one) and 5 (five) million tonnes per annum
of liquefied CO2 from NSC as a supply source for CStore1.
deepC Store’s existing partners are Add Energy Group, Commonwealth Scientific and Industrial
Research Organisation (CSIRO), JX Nippon Oil and Gas Exploration Corporation, Kyushu Electric Power,
Mitsui O.S.K. Lines, Osaka Gas and Osaka Gas Australia, Technip Energies and Toho Gas. Through this
agreement, deepC Store and its partners will collaborate with NSC to perform the following
activities:
•Consider the technical conditions of the liquefied CO2 to be captured and transported
from NSC’s steelworks to CStore1; and
•Negotiate the key commercial terms to capture and transport liquefied CO2 from
NSC’s steelworks to CStore1.
NSC’s Managing Executive Officer Hideo Suzuki said, “As we actively pursue various initiatives
for achieving carbon neutrality in 2050, we believe that CCS is one of our essential methods for realising
carbon neutrality. By conducting the joint study with deepC Store based on their unique large-scale
offshore floating CCS hub technology, we look forward to enhancing our knowledge on CCS and enabling a
breakthrough for conducting CCS.”
deepC Store Chairman Jack Sato said, “We are very pleased to accelerate our CStore1 development with
NSC’s participation, a significant global player in the steel industry, for material reduction of
CO2 emissions. This joint study demonstrates our ongoing commitment to establish CStore1
as the first offshore floating CCS hub project in the Asian Pacific region, and to advance Australia and
Japan’s strategic position in the CCS business.”
deepC Store is a CCS project developer that specialises in developing multiple CCS projects and generating
material quantities of carbon credits. deepC Store’s flagship CStore1 project consists of
capturing between 1.5 (one point five) and 7.5 (seven point five) million tonnes per annum of
CO2 from industrial sources in Australia and the Asia-Pacific region, shipping of liquid
CO2 from capture sites to a CO2 Floating Storage and Injection (FSI) hub facility in
offshore Australia, and injecting CO2 in a subsurface storage complex near the FSI hub
facility, as shown below.
The goals of the deepC Store align with the Australian government’s Low Emissions Technology
Statement (LETS), with CCS being identified as one of the five priority technologies to reduce emissions
from energy, transport, agriculture and heavy industry.
