SAN RAMON (dpa-AFX) - JX Nippon Oil & Gas Exploration Corporation and
Chevron New Energies, a division of Chevron U.S.A. Inc., said that they have
signed a Memorandum Of Understanding that provides a framework to evaluate the
export of Carbon Dioxide from Japan to Carbon Capture and Storage projects
located in Australia and other countries in the Asia Pacific region.

According to the companies, the main objective of the Memorandum Of
Understanding is to evaluate the feasibility of the Carbon Capture and Storage
value chain, including capture of Carbon Dioxide emitted from industries located
in Japan, including JX's affiliates, and transportation by ship from Japan to
Chevron's greenhouse gas storage portfolio in Australia.

The collaboration will also explore the opportunity to develop suitable
transboundary policies and the potential development of Carbon Dioxide storage
sites in other countries in the Asia Pacific region.



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