A consortium of major steel and energy players — including ArcelorMittal Nippon Steel India, JSW Steel, Hyundai Steel, BHP, Chevron, and Mitsui & Co., Ltd. — is set to begin a pre-feasibility study aimed at fast-tracking the adoption of Carbon Capture, Utilization, and Storage (CCUS) technology across Asia, according to BHP.
This will be Asia’s first independent, industry-led CCUS hub study, open to additional members. The study will conclude by end-2026, with findings shared publicly to promote wider adoption and guide policy frameworks.
Pioneering Decarbonization for Heavy Industries
The study will focus on hard-to-abate sectors like steelmaking, mapping technical and commercial pathways for CCUS deployment. Key areas of research include:
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Carbon utilization & storage options, including repurposing captured CO₂ or transporting it for storage in Asia and Northern Australia.
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Large-scale project planning, including infrastructure design and cost estimation.
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Cross-border transport solutions via pipelines or shipping.
Shared Infrastructure for Cost Efficiency
The consortium aims to establish shared CCUS hubs to:
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Reduce unit costs of capture, transport, and storage.
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Enable large-scale carbon utilization.
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Address multiple industries simultaneously to accelerate regional decarbonization.
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Spread costs and risks among participants.
By pooling resources and creating regional hubs, the project seeks to transform carbon management economics in Asia’s steel sector.
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