Mitsui & Co., Ltd. has joined a Carbon Capture and Storage (CCS) project at the Arthit gas field in the Gulf of Thailand through its wholly owned subsidiary, Mitsui Energy Development Co., Ltd. (MOECO). The project is operated by Thailand's PTT Exploration and Production Public Company Limited (PTTEP) and represents the first CCS initiative in Thailand.

MOECO participates in the project via its subsidiary MOECO Thailand Co., Ltd., which holds a 4.7619% share in the CCS project. The project aims to begin operations in 2028 and is expected to store up to 1 million tons of CO2 annually.

Project Background and Field Details

The Arthit gas field supplies approximately 8% of Thailand's domestic natural gas demand. MOECO holds a 51.42% stake in its subsidiary MOECO Thailand Co., Ltd., which has held a 4% share in the Arthit gas field since 1998.

The Arthit Gas Field operates under blocks 14A, 15A, and 16A and is currently in producing status. The partnership structure includes PTT Exploration and Production Public Company Limited as the operator with an 80% stake, Chevron Thailand Exploration and Production Ltd. with 16%, and MOECO Thailand Co., Ltd. with 4%.

Government Support and Feasibility Studies

In 2022, Mitsui & Co. and MOECO were selected for a support program by Japan's Ministry of Economy, Trade, and Industry titled “FY2022 Infrastructure Development Survey Project for Bilateral Credit Acquisition (JCM Feasibility Study and CEFIA Domestic Secretariat Operations).” The companies have conducted related studies, and the outcomes have led to the decision to participate in the CCS project.

The project demonstrates high feasibility as a model for low-carbon energy businesses, as it achieves CCS without impacting existing natural gas production.

Corporate Strategy and Environmental Goals

This CCS project represents an initiative in Mitsui & Co.'s efforts to achieve net-zero emissions by 2050. The company has identified six material issues for sustainable growth under its corporate mission to “build brighter futures, everywhere.” The project is anticipated to contribute especially to the realization of “Establish a foundation for sustainable and stable supply.”

Since its establishment in 1969, MOECO has been engaged in exploration, development, and production activities around the world, primarily focusing on offshore operations in Thailand. Through its long-standing partnership with PTTEP, MOECO continues to contribute to Thailand's national goal of achieving carbon neutrality and promoting decarbonization.

Together with MOECO and other group companies, Mitsui & Co. will utilize its expertise cultivated through upstream oil and gas operations to promote the social implementation of CCS, thereby contributing to its goal of “building a foundation for sustainable and stable supply.”

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