China – A non-binding Memorandum of Understanding (MoU) between Shell and Sinopec, Baowu, and BASF has been signed in order to examine the viability of creating an open-source carbon capture, utilization, and storage (CCUS) project in the East China region.
Contractual opportunities to absorb and store CO2 emissions could be made available to industrial businesses in the middle and lower reaches of the Yangtze River by an open-source project.
The four parties propose to carry out a collaborative investigation to evaluate the technical options and create a business plan for the project. The study will also look into creating supply chains for low-carbon products that are proven to be of high integrity, and it will suggest enabling policies. If it is successful, it will be the first significant open-source CCUS project in China, with a potential annual CO2 capacity of tens of millions of tonnes.
If this idea is effective, CO2 emissions from industrial businesses in the East China region may be captured. These emissions may then be delivered to a receiving terminal via CO2 carrier ships, where they would subsequently be transported via brief pipelines to onshore and offshore storage facilities. For businesses in the area, this might present a flexible, effective, and comprehensive decarbonization solution.