Reported Earlier, Chevron Inks MOU With JX Nippon Oil & Gas For Collaboration On Development Of CCS Value Chain
Portfolio Pulse from Benzinga Newsdesk
Chevron has signed a Memorandum of Understanding (MOU) with JX Nippon Oil & Gas to collaborate on the development of a Carbon Capture and Storage (CCS) value chain. This collaboration aims to evaluate the feasibility of capturing CO₂ emissions from industries in Japan, including those affiliated with JX, and transporting them to Chevron's greenhouse gas storage sites in Australia. Additionally, the partnership will explore developing transboundary policies and potential CO₂ storage sites in other Asia Pacific countries.
March 19, 2024 | 6:22 am
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Chevron's MOU with JX Nippon Oil & Gas for CCS value chain development could enhance its sustainability profile and open new business avenues in the Asia Pacific.
The collaboration with JX Nippon Oil & Gas positions Chevron at the forefront of CCS technology development, potentially reducing greenhouse gas emissions and aligning with global sustainability goals. This strategic move could attract positive attention from investors focused on environmental, social, and governance (ESG) criteria, potentially leading to a short-term positive impact on Chevron's stock price.
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