US-headed global oil, gas, and energy super major Chevron Corporation, through its Chevron New Energies business, and Japan-headed energy utility JERA Co., Inc (JERA) are collaborating on multiple lower carbon opportunities – including production, carbon capture, utilization, and storage (CCUS); and new technology commercialization – focused on the United States and Asia Pacific region.
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An equal joint venture of two major Japanese electric power companies, TEPCO Fuel & Power Inc., and Chubu Electric Power Co. Ltd, Japan’s Energy for a New Era (JERA) produces about 30 percent of all electricity in Japan.
JERA is an energy company with global reach that has strength in the entire energy supply chain, from participation in liquefied natural gas (LNG) upstream projects and fuel procurement, through fuel transportation to power generation.
JDA for potential co-development
The companies have signed a Joint Study Agreement (JDA) to explore the potential co-development of lower carbon fuel in Australia and will conduct a feasibility study expected to be completed in 2023.
Lower carbon fuel supplies to be produced in the region would seek to leverage Chevron’s LNG and carbon capture and storage (CCS) knowledge and experience.
As part of their focus across the hydrogen value chain – including production, export, and transportation – Chevron and JERA will also study liquid organic hydrogen carriers (LOHC) in the United States.
Chevron and JERA have worked together to bring affordable and reliable energy to our customers in the form of LNG, and we are excited about the opportunity to further build upon this relationship as we identify opportunities to provide ever-cleaner energy. Partnerships are critical to achieving lower carbon goals, and we believe Chevron has the people, assets, and customers to help drive solutions across the globe, said Jeff Gustavson, President of Chevron New Energies.
LOHC has the potential to enable efficient hydrogen transport and long-duration energy storage applications, essentially using hydrogen as a battery to deliver lower carbon energy on demand.
As part of their focus on LOHC, Chevron and JERA have both invested in Hydrogenious LOHC Technologies.
We believe that strengthening our cooperation with Chevron will not only expand business opportunities for both companies but also contribute to the stable supply of energy in the Asia Pacific and the US to transition to a decarbonized society, said Yukio Kani, SVP of JERA.
