TOKYO, Japan & Houston, United States:
Chevron Corporation (NYSE: CVX), by means of its Chevron New Energies business, and JERA are collaborating on a number of lower carbon alternatives – together with manufacturing; carbon seize, utilization, and storage; and new expertise commercialization – targeted on the U.S. and Asia Pacific area.
The corporations have signed a Joint Study Agreement to discover the potential co-development of lower carbon gas in Australia and will conduct a feasibility examine anticipated to be accomplished in 2023. Lower carbon gas provides to be produced in the area would search to leverage Chevron’s LNG and CCS information and expertise.
As a part of their focus throughout the hydrogen worth chain – together with manufacturing, export, and transportation – Chevron and JERA may also examine liquid natural hydrogen carriers (LOHC) in the U.S. LOHC has the potential to allow environment friendly hydrogen transport and lengthy length power storage functions, primarily utilizing hydrogen as a battery to ship lower carbon power on demand. As a part of their deal with LOHC, Chevron and JERA have each 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,” mentioned 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 mentioned, “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.”
About Chevron
Chevron is one among the world’s main built-in power corporations. We imagine inexpensive, dependable, and ever-cleaner power is important to reaching a extra affluent and sustainable world. Chevron produces crude oil and pure fuel; manufactures transportation fuels, lubricants, petrochemicals and components; and develops applied sciences that improve our business and the trade. We are targeted on decreasing the carbon depth in our operations and rising lower carbon companies together with our conventional business traces. For extra data, please go to www.chevron.com.
About JERA
Established in 2015, JERA is an equal three way partnership of two main Japanese electrical energy corporations, TEPCO Fuel & Power Incorporated and Chubu Electric Power Company and produces about 30% of all electrical energy in Japan. JERA is an power firm with world attain that has energy in the complete power provide chain, from participation in LNG upstream tasks and gas procurement, by means of gas transportation to energy technology. JERA, which stands for Japan’s Energy for a New Era, will tackle the problem of reaching web zero CO2 emissions from its home and abroad companies by 2050 and is supporting an power transition in an environmentally and socially accountable method. For extra particulars: https://www.jera.co.jp/english/
CAUTIONARY STATEMENTS RELEVANT TO FORWARD-LOOKING INFORMATION FOR THE PURPOSE OF “SAFE HARBOR” PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995
This information launch incorporates forward-looking statements regarding Chevron’s operations and power transition plans which can be primarily based on administration’s present expectations, estimates and projections about the petroleum, chemical substances and different energy-related industries. Words or phrases equivalent to “anticipates,” “expects,” “intends,” “plans,” “targets,” “advances,” “commits,” “drives,” “aims,” “forecasts,” “projects,” “believes,” “approaches,” “seeks,” “schedules,” “estimates,” “positions,” “pursues,” “may,” “can,” “could,” “should,” “will,” “budgets,” “outlook,” “trends,” “guidance,” “focus,” “on track,” “goals,” “objectives,” “strategies,” “opportunities,” “poised,” “potential,” “ambitions,” “aspires” and related expressions are meant to establish such forward-looking statements. These statements are usually not ensures of future efficiency and are topic to sure dangers, uncertainties and different elements, lots of that are past the firm’s management and are troublesome to foretell. Therefore, precise outcomes and outcomes could differ materially from what’s expressed or forecasted in such forward-looking statements. The reader shouldn’t place undue reliance on these forward-looking statements, which communicate solely as of the date of this information launch. Unless legally required, Chevron undertakes no obligation to replace publicly any forward-looking statements, whether or not on account of new data, future occasions or in any other case.
Among the vital elements that would trigger precise outcomes to vary materially from these in the forward-looking statements are: altering crude oil and pure fuel costs and demand for the firm’s merchandise, and manufacturing curtailments on account of market situations; crude oil manufacturing quotas or different actions that may be imposed by the Organization of Petroleum Exporting Countries and different producing international locations; technological developments; modifications to authorities insurance policies in the international locations in which the firm operates; public well being crises, equivalent to pandemics (together with coronavirus (COVID-19)) and epidemics, and any associated authorities insurance policies and actions; disruptions in the firm’s world provide chain, together with provide chain constraints and escalation of the price of products and providers; altering financial, regulatory and political environments in the numerous international locations in which the firm operates; basic home and worldwide financial and political situations, together with the army battle between Russia and Ukraine and the world response to such battle; altering refining, advertising and chemical substances margins; actions of opponents or regulators; timing of exploration bills; timing of crude oil liftings; the competitiveness of alternate-energy sources or product substitutes; improvement of huge carbon seize and offset markets; the outcomes of operations and monetary situation of the firm’s suppliers, distributors, companions and fairness associates, significantly throughout the COVID-19 pandemic; the incapacity or failure of the firm’s joint-venture companions to fund their share of operations and improvement actions; the potential failure to attain anticipated web manufacturing from present and future crude oil and pure fuel improvement tasks; potential delays in the improvement, building or start-up of deliberate tasks; the potential disruption or interruption of the firm’s operations on account of warfare, accidents, political occasions, civil unrest, extreme climate, cyber threats, terrorist acts, or different pure or human causes past the firm’s management; the potential legal responsibility for remedial actions or assessments beneath present or future environmental laws and litigation; important operational, funding or product modifications undertaken or required by present or future environmental statutes and laws, together with worldwide agreements and nationwide or regional laws and regulatory measures to restrict or scale back greenhouse fuel emissions; the potential legal responsibility ensuing from pending or future litigation; the firm’s future acquisitions or tendencies of belongings or shares or the delay or failure of such transactions to shut primarily based on required closing situations; the potential for positive aspects and losses from asset tendencies or impairments; authorities mandated gross sales, divestitures, recapitalizations, taxes and tax audits, tariffs, sanctions, modifications in fiscal phrases or restrictions on scope of firm operations; international forex actions in contrast with the U.S. greenback; increased inflation and associated impacts; materials reductions in company liquidity and entry to debt markets; the receipt of required Board authorizations to implement capital allocation methods, together with future inventory repurchase packages and dividend funds; the results of modified accounting guidelines beneath usually accepted accounting rules promulgated by rule-setting our bodies; the firm’s capability to establish and mitigate the dangers and hazards inherent in working in the world power trade; and the elements set forth beneath the heading “Risk Factors” on pages 20 by means of 25 of the firm’s 2021 Annual Report on Form 10-Ok and in subsequent filings with the U.S. Securities and Exchange Commission. Other unpredictable or unknown elements not mentioned in this information launch may even have materials adversarial results on forward-looking statements.
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