Kuala lumpur: An industry consortium comprised of leading steelmakers ArcelorMittal Nippon Steel India, JSW Steel, Hyundai Steel Company and other value chain players, BHP, Chevron, Mitsui and Co., Ltd. (the Consortium), are undertaking a pre-feasibility study to assess the development of Carbon Capture, Utilisation and Storage (CCUS) hubs across Asia: The CCUS Hub study is the first independent industry-led study of its kind in Asia and will examine the technical and commercial pathways to utilising CCUS in hard-to-abate industries across Asia. The study will focus on the potential to develop large-scale projects which can repurpose, or store, captured carbon dioxide (CO2).

According to BERNAMA News Agency, this initiative marks a significant collaborative effort among major industry players to address the pressing issue of carbon emissions in sectors that are traditionally difficult to decarbonize. The study aims to explore innovative solutions that could lead to the widespread adoption of CCUS technology, thereby contributing to global efforts in combating climate change.

The Consortium’s approach involves assessing various technical and commercial strategies that could make CCUS a viable option for industries that emit large quantities of CO2. By focusing on the creation of hubs, the study seeks to find efficient ways to capture and store carbon emissions from multiple sources, potentially transforming the industrial landscape in Asia.

Industry experts believe that the outcomes of this study could pave the way for future investments and policy developments in the field of carbon management. The collaboration highlights the commitment of these companies to not only reduce their carbon footprint but also to lead the charge in creating sustainable industrial practices in the region.