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TOKYO: Mitsubishi Corporation has agreed to explore a carbon capture and storage (CCS) project with Exxon Mobil and Japan’s largest steelmaker Nippon Steel, a Mitsubishi spokesman said. said Wednesday.

The three companies on Wednesday signed a memorandum of understanding (MoU) to begin talks to build a value chain for geological storage of CO2 emitted by Japanese steel plants overseas, a spokesman said. rice field.

Nippon Steel is considering capturing CO2 emissions from local steel plants for underground storage at Exxon-related facilities in countries such as Australia, Malaysia and Indonesia, says Nikkei Sangyo Nikkan The paper reported Wednesday.

According to Nihon Keizai Shimbun, Mitsubishi will be responsible for transporting the liquefied CO2 to depleted gas fields and other storage sites, including by dedicated vessels.

A Mitsubishi Motors spokeswoman said the reports were correct, but declined to comment further.

Reducing carbon emissions from steel manufacturing, which accounts for around 7-9% of global CO2 emissions, is a key initiative in the fight against climate change.

A spokesperson for Nippon Steel confirmed that it was considering projects with both companies, but did not provide details.

Exxon was not available for comment. Focus on carbon capture projects with Mitsubishi, Exxon and Nippon Steel

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