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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 1st 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.

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