100-plus Asian companies share tech in carbon storage push

Public-private project to move CO2 via pipeline and sea to sequestration facilities

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Participating businesses will pursue projects for pumping carbon dioxide into the ground near where it is emitted and for liquefying CO2 so that it can be shipped to countries with plenty of room to store it. © Reuters

JUNTARO ARAI, Nikkei staff writer

June 22, 2021 10:43 JST

TOKYO -- More than 100 businesses in Asia will work together to develop carbon storage technology under a public-private initiative launched by Japan, hoping to bring down the prohibitive costs that currently stand in the way of commercialization.

Japan's economy and trade ministry will form the Asia CCUS Network on Tuesday to share technological know-how in carbon capture, utilization and storage technology, with the 10 Association of Southeast Asian Nations members, Australia and the U.S. taking part.