Japan sets target to reach a CO₂ storage capacity of 6-12 Mt/year by 2030

Japan's Ministry of Industry (METI) has set a target to reach a CO₂ storage capacity of 6 to 12 MtCO₂/year by 2030 under a long-term roadmap for carbon capture and storage (CCS). The METI estimates that Japan will be able to store 120 to 240 MtCO₂/year in 2050. To reach that target, Japan will aim to significantly cut CO₂ separation and recovery costs. The METI also wants legislative frameworks in place to allow companies to launch full-scale CCS operations from 2030.

Following this announcement, several Japanese companies have announced joint studies for CCS implementation in the country. Japanese oil refiners Eneos, JX Nippon Oil & Gas Exploration, as well as Electric Power Development (J-Power) have announced that they will form a joint venture to accelerate preparations for the commercialisation of domestic CCS. Itochu, Mitsubishi Heavy Industries, Inpex and Taisei have also said they will study options for a large-scale CCS value chain, including ship transportation of CO₂ emitted from materials and other industries. Nippon Steel and Mitsubishi Corporation, in partnership with ExxonMobil, have made a similar announcement. Finally, Idemitsu Kosan, Hokkaido Electric Power and Japan Petroleum Exploration have also declared they will start a joint study for implementing CCS.

Japan pledged in its updated 1^st NDC to reduce its GHG emissions by 46% in 2030, from 2013 levels. This target will amount 760 MtCO₂eq (from 1,408 MtCO₂eq in 2013). Japan also announced that it aims to reach carbon neutrality in 2050.