Main

Japanese translation

Mitsui & Co. Wins Bid to Conduct Engineering Design Work of an Advanced CCS Project in FY2024

Oct. 10, 2024

Mitsui & Co., Ltd. ("Mitsui", Head Office: Tokyo, President and CEO: Kenichi Hori), together with The Kansai Electric Power Co., Inc., Kyushu Electric Power Co., Inc., Cosmo Oil Co., Ltd., The Chugoku Electric Power Co., Inc., Electric Power Development Co., Ltd., Resonac Corporation, and Mitsubishi UBE Cement Corporation, has won a bid to conduct engineering design work for the CCS project southern Offshore Peninsular Malaysia, following a public call for bids by the Japan Organization for Metals and Energy Security (JOGMEC) to select Advanced CCS Projects for FY2024.

The Japanese government has set a target of realizing carbon neutrality by reducing net greenhouse gas emissions to zero by 2050. To achieve this target, JOGMEC has supported innovative projects with the aim of establishing carbon capture and storage (CCS) projects by 2030. Mitsui & Co. and the seven companies listed above will carry out engineering design work for an integrated CCS value chain, whereby CO₂ will be recovered in projected emission areas within Japan and transported by sea for offshore storage southern Offshore Peninsular Malaysia. The winning of the bid provides for the continuation of this work from FY2023.

Mitsui, PETRONAS CCS Solutions Sdn Bhd, a subsidiary of Malaysia's national oil company PETRONAS, and TotalEnergies Carbon Neutrality Ventures, a subsidiary of the French integrated energy company TotalEnergies, commenced joint development of the CO₂ storage site for the southern Offshore Peninsular Malaysia CCS scheme in June 2023.

Mitsui will actively use its knowledge of energy value chain development, including the development of energy resources, and its extensive business networks, to drive progress on this development project with the aim of achieving an early startup of the CCS business. We will continue to contribute to the creation of an eco-friendly society by providing CO₂ reduction solutions through our global CCS business.

Company Profile

Official name	The Kansai Electric Power Company,Incorporated
Head Office Location	Kita-ku, Osaka
Established	1951
Representative	Nozomu Mori
Number of employees	8,416
Business Activities	Electric power, heat supply, telecommunications, gas supply
Website	https://www.kepco.co.jp/english/

Official name	Kyushu Electric Power Company, Incorporated
Head Office Location	Chuo-ku, Fukuoka
Established	1951
Representative	Kazuhiro Ikebe
Number of employees	14,428
Business Activities	Electric power, Heat supply, Telecommunication, Gas supply, and others
Website	https://www.kyuden.co.jp/english_index.html

Official name	COSMO OIL CO., LTD.
Head Office Location	Minato-ku, Tokyo
Established	1986
Representative	Yasuhiro Suzuki
Number of employees	1,395
Business Activities	Imports and exports, refining, storage, and sales of crude oil and petroleum products, etc.
Website	https://www.cosmo-energy.co.jp/en/company/group/cosmo-coc.html

Official name	The Chugoku Electric Power Co.,Inc.
Head Office Location	Hiroshima-shi, Hiroshima
Established	1951
Representative	Kengo Nakagawa
Number of employees	4,451
Business Activities	Generation, transmission, and distribution of electric power
Website	https://www.energia.co.jp/e/index.html

Official name	Electric Power Development Co.,Ltd.
Head Office Location	Chuo-ku, Tokyo
Established	1952
Representative	Hitoshi kanno
Number of employees	1,862
Business Activities	Electric Utility
Website	https://www.jpower.co.jp/english/

Official name	Resonac Corporation
Head Office Location	Minato-ku, Tokyo
Established	1962
Representative	Hidehito Takahashi
Number of employees	23,840 (Cosolidated)
Business Activities	lectronics, Mobility, High performance materials, Olefins & derivatives, Basic chemicals, Graphite, Device solution, Life science
Website	https://www.resonac.com/

Official name	Mitsubishi UBE Cement Corporation
Head Office Location	Chiyoda-ku, Tokyo
Established	2021
Representative	Makoto Koyama
Number of employees	1,871
Business Activities	Cement and ready-mixed concrete businesses in Japan and overseas (USA and others), limestone resources business, environmental and energy-related businesses (coal business, electric power business, environmental and recycling businesses), building materials business, and other associated businesses, etc.
Website	https://www.mu-cc.com/en/

Mitsui’s Materiality

“Build brighter futures, everywhere” as our corporate mission, and to gain the trust and expectations of our stakeholders to realize a better tomorrow for earth and for people around the world, we have identified five material issues (“Materiality”) for Mitsui’s sustainable growth. We anticipate this particular project/ business to contribute especially to the realization of “Create an eco-friendly society”