The two companies have launched a study to evaluate business opportunities within the carbon capture storage and utilisation market. The first phase of the project is expected to last six months.
Jeff Gustavson, president of Chevron New Energies, said: “This joint effort has the potential to advance our ongoing work to grow our lower carbon businesses with commercial-scale using the industry expertise both companies bring to the project.
“International climate change scientists working with the United Nations have identified carbon capture as a critical technology needed to help the global energy system transition to a lower-carbon future.”
