Chevron: carbon storage contract in Australia

(CercleFinance.com) - Chevron Corporation announces that it has been awarded, through its subsidiary Chevron Australia New Ventures Pty Ltd (Chevron), a permit to evaluate and develop carbon capture and storage (CCS) offshore Western Australia.


The permit involves a joint venture between Chevron as operator (70%) and Woodside Energy (30%), a leading Australian energy company.

Chevron has also agreed to cede 5% of the permit to GS Caltex (GSC), a South Korean energy company. GSC's entry into the permit is, however, conditional on regulatory approval.

Ultimately, the project could also help customers to reduce or offset their emissions.


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