Today, JX Nippon Oil and Gas Exploration Corporation ("JX") and JGC Holdings Corporation ("JGC HD") have signed a Memorandum of Understanding (MoU) with Petroliam Nasional Berhad ("PETRONAS") on Joint Collaboration Study, which aims to study the potential of Carbon Capture and Storage (CCS) development in Malaysia. Tetsuo Yamada, Executive Vice President signed the MoU on behalf of JX, while JGC HD and PETRONAS was represented by Senior Executive Officer, General Manager, Sustainability Co-creation Department, Masahiro Aika and Senior General Manager, Carbon Management, Emry Hisham Yusoff.

The collaboration study targets not only CO₂ emitted from industries in Malaysia, but it also pursues the possibility to permanently store CO₂ from overseas such as Japan. PETRONAS, JX and JGC HD will combine their respective knowledge and experiences to construct the entire CCS value chain, from CO₂ separation, capturing, transportation, injection, and storage.

JX believes CCS and CCUS (Carbon Capture, Utilization and Storage) will play an important role in the realization of carbon neutrality. JX has an established and proven track record in several CCS/CCUS projects, such as a CO₂ Enhanced Oil Recovery (CO₂-EOR) pilot test in Vietnam and the Petra Nova CCUS Project utilizing CO₂ captured from a thermal power plant in Texas, U.S.A.

One of ENEOS Group's envisioned goals for 2040 is contributing to the development of a low carbon, recycling-oriented society. In May 2022, the ENEOS Group announced the ENEOS Group Plan for Carbon Neutrality. As part of our efforts to achieve this goal, JX continues to work toward the promotion of CCS/CCUS businesses.

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