Nippon Steel Corporation announced that it has officially been selected and entered into a commission contract with the Japan Organization for Metals and Energy Security (“JOGMEC”) for two initiatives with other companies within the feasibility study on Japanese Advanced CCS* Project (“Study”), a public offering project in FY2023. *CSS (Carbon dioxide Capture and Storage) is a technology that captures and stores CO2.
In March 2021, Nippon Steel announced Carbon Neutral Vision 2050 in its medium- to long-term management plan. The vision states the aims of reducing CO2 emissions 30% by 2030 from the 2013 level and achieving carbon neutrality in 2050. To attain these goals, we have been advancing decarbonization with three innovative process reforms (namely, high-grade steel production in large-sized electric arc furnaces, hydrogen injection into blast furnaces, and 100% hydrogen use in the direct reduction process) and have positioned CCS as one of the most important technologies to process the CO2 that is generated, even with the incorporation of these technologies. Through the commissioning of this Study, we will make efforts with the other companies to secure storage locations, develop storage infrastructure, and develop external requirements, including laws and regulations.
Courtesy of Nippon Steel Corporation.