Tokyo - INPEX CORPORATION (INPEX) announced that it has signed a joint study agreement with the Kansai Electric Power Co., Inc. (Kansai Electric Power) on zero-carbon fuels and carbon capture and storage (CCS).

Based on this agreement, INPEX and Kansai Electric Power will evaluate opportunities to collaborate on the realization of businesses related to zerocarbon fuels and CCS.

The agreement is expected to contribute to the realization of a carbon-free society in the future while strengthening the relationship between the two companies. As outlined in its 'Long-term Strategy and Medium-term Business Plan (INPEX Vision @2022)' announced on February 9, 2022, INPEX has set the goal of expanding its 5 net zero businesses and making its oil and gas business cleaner and more resilient. The company aims to provide a stable supply of diverse and clean energy sources including oil and natural gas, hydrogen and renewable power towards a net zero carbon society by 2050.

The signing of the joint study agreement is in line with this goal. INPEX will respond to the energy needs of Japan and the world through evaluating joint business opportunities with Kansai Electric Power, and proactively engage in energy structure reforms towards the realization of a net zero carbon society by 2050.

About INPEX

INPEX CORPORATION is Japan's largest exploration and production (E&P) company, and is currently involved in projects across multiple continents, including the Ichthys LNG Project in Australia as Operator. By thoroughly making its oil and gas business cleaner while expanding its 5 net zero business areas, INPEX aims to provide a stable supply of diverse and clean energy sources including oil, natural gas, hydrogen and renewables as a pioneer in energy transformation.

Contact:

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