Kansai Electric Power Company (KEPCO) and JFE Steel Corporation announced today their signing of a memorandum of understanding (MOU) to jointly study possible projects for carbon dioxide capture and storage (CCS), including related costs and technical requirements.

The two companies will study the feasibility of projects to capture, liquefy and store CO₂ emitted from KEPCO’s thermal power plants and JFE’s steel works, and then transport the CO₂ by ship to depleted oil and gas fields, aquifers and other areas in Japan and abroad for underground storage.

The study will be targeted at sorting out various issues related to the technologies and costs required for CCS projects that can contribute to a more carbon-neutral world.

Outline of Memorandum of Understanding

Objective

This MOU represents a basic agreement to conduct joint studies and surveys that clarify the feasibility of projects to separate, capture, transport and store CO₂ emitted from facilities (thermal power plants and steel works) owned by the two companies and also to identify related issues such as costs and necessary technologies.

Major roles of each company

- KEPCO: Examination of technical requirements, costs, etc. for CO₂ capture, liquefaction, temporary storage and loading at thermal power plants
- JFE: Examination of technical requirements, costs, etc. for CO₂ capture, liquefaction, temporary storage and loading at steel works
- Both companies: Examination of technical requirements, costs, etc. for ship transport and underground storage of CO₂

Images of studies and surveys on CO₂ capture and storage

About JFE Steel Corporation

JFE Steel Corporation, one of the world’s leading integrated steel producers, was established through the consolidation of NKK Corporation and Kawasaki Steel Corporation in 2003. The company operates several steelworks in Japan and numerous branch offices and affiliates throughout the world. JFE Steel leverages world-class technologies and know-how to produce a wide range of products based on its “Only One, Number One” strategy of focusing on unique and best-in-class products. The company reported consolidated sales of 2,255 billion yen and consolidated crude steel output of 23.96 million tons in the fiscal year ended March 2021.

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