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September 22, 2024

Japan’s Marubeni to capture 10m tonnes of carbon in North America – Nikkei

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Japan’s Marubeni to capture 10m tonnes of carbon in North America:

Marubeni plans to capture carbon dioxide from a natural gas processing facility in Texas and sell carbon credits. (Marubeni)

KEIGO YOSHIDA, Nikkei staff writer September 20, 2024 23:42 JST | North America

TOKYO — Japanese trading house Marubeni has teamed with a U.S. company on a joint venture that seeks to capture and store 10 million tonnes of carbon emissions across North America yearly by around 2030, Nikkei has learned.

Marubeni purchased a 50% share in an operating company established by Ozona, a carbon capture and sequestration developer based in the U.S. state of Texas. The stake is believed to be worth 1 billion yen ($6.95 million), and the trading house has classified the unit as an equity method affiliate.

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