October 29, 2024 Press Release from Mitsui & Co., Ltd.
In 2024, Mitsui subsidiary, MEP Low Carbon Solutions, established the Aves joint venture with subsidiaries of Repsol and Carbonvert and executed two leases offshore Corpus Christi to develop a carbon storage project. The leases (more than 140,000 acres / 570km2) have an expected storage capacity of more than 600 million tons of CO2.
The carbon storage project is located in close proximity to existing industrial emissions, including proposed greenfield project emissions that are anticipated in the same area by 2035.
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 to contribute to the creation of an eco-friendly society by providing CO2 reduction solutions.