Entrust a Study in East-Niigata Area as the “Business Feasibility Study on Japanese Advanced CCS Project” in FY2023 by JOGMEC

Japan Petroleum Exploration Co., Ltd. (JAPEX), MITSUBISHI GAS CHEMICAL COMPANY, INC. (MGC), Tohoku Electric Power Co., Inc. (TOHOKU-EPCO), Hokuetsu Corporation (HC), and Nomura Research Institute, Ltd. (NRI) (hereinafter the "Consortium" for the five companies together) are entrusted a feasibility study of CCS^(*1) in East-Niigata area (hereinafter the "Study") ^(*2), which is a public solicitation by Japan Organization for Metal and Energy Security (JOGMEC) regarding the Request for Proposal on the "Business Feasibility Study on Japanese Advanced CCS Project" in the fiscal 2023.

The Study will be conducted by the Consortium aiming at launching a CCS project by 2030, while examining CO₂ separation and capture from existing chemical plant/papermaking plant/power station, CO₂ injection and storage point, and transportation pipeline to connect these venues in the East-Niigata area which is a target region in the "Niigata Carbon Neutrality Site Development and Foundation Establishment Strategy"^(*3) unveiled in March 2023 by Niigata Prefecture. The Consortium will proceed with examinations including an estimation of required costs by March 2024, utilizing each expertise obtained through their core businesses and existing research and survey data.

Please refer the appendix for the outline of the Study, each companies' role in the Consortium.

The Consortium will make aggressive challenges towards "Carbon Neutrality in 2050" aiming to realize an advanced CCS project in the East-Niigata area through steady progress of the Study and to create additional advantage such as decarbonized fuel and environmental value.