HOUSTON & TOKYO-- November 08, 2022 -- Chevron Corporation (NYSE: CVX), through its Chevron New Energies business, and JERA are collaborating on multiple lower carbon opportunities - including production; carbon capture, utilization, and storage; and new technology commercialization - focused on the U.S. and Asia Pacific region.

The companies have signed a Joint Study Agreement to explore the potential co-development of lower carbon fuel in Australia and will conduct a feasibility study expected to be completed in 2023. Lower carbon fuel supplies to be produced in the region would seek to leverage Chevron’s LNG and CCS knowledge and experience.

As part of their focus across the hydrogen value chain - including production, export, and transportation - Chevron and JERA will also study liquid organic hydrogen carriers (LOHC) in the U.S. LOHC has the potential to enable efficient hydrogen transport and long duration energy storage applications, essentially using hydrogen as a battery to deliver lower carbon energy on demand. As part of their focus on LOHC, Chevron and JERA have both invested in Hydrogenious LOHC Technologies.

“Chevron and JERA have worked together to bring affordable and reliable energy to our customers in the form of LNG, and we are excited about the opportunity to further build upon this relationship as we identify opportunities to provide ever-cleaner energy,” said Jeff Gustavson, president of Chevron New Energies. “Partnership is critical to achieving lower carbon goals, and we believe Chevron has the people, assets, and customers to help drive solutions across the globe.”

JERA Corporate Vice President Yukio Kani said, “We believe that strengthening our cooperation with Chevron will not only expand business opportunities for both companies but also contribute to the stable supply of energy in Asia Pacific and the U.S. to transition to a decarbonized society.”

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