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Climate Change

Nippon Steel, Exxon explore carbon capture and storage tie-up

Japanese steelmaker pursues paths toward carbon neutrality by 2050

Nippon Steel is adopting electric arc furnaces and developing hydrogen-powered technology as it seeks to achieve carbon neutrality by 2050. (Photo by Yuki Nakao)

TOKYO -- Nippon Steel is considering capturing carbon dioxide emissions from its Japanese steel mills for underground storage at facilities linked to Exxon Mobil in countries including Australia, Malaysia and Indonesia, Nikkei has learned.

Nippon Steel, Exxon Mobil's Singapore unit and Japanese trading house Mitsubishi Corp. will sign a memorandum of understanding on Wednesday to start discussions on the project. Mitsubishi, which connected Nippon Steel and Exxon, would handle transportation, such as by shipping liquefied CO2 to depleted gas fields and other storage sites using specialized vessels.

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