BHP Group, the world’s biggest miner, will lead a consortium of steelmakers and other industrial giants in investigating opportunities for carbon capture utilization and storage (CCUS) across Asia, it said in a statement Monday.
ArcelorMittal Nippon Steel India Pvt Ltd., JSW Steel Ltd., Hyundai Steel Co., along with gas major Chevron Corp. and Mitsui & Co. Ltd., are partners in the study, BHP said. Together, they will produce a pre-feasibility study to identify potential large-scale CCUS projects to store emissions from blast furnaces used to turn iron into steel. Steelmaking accounts for roughly 8% of global carbon dioxide emissions.
>> In Other News: Natural Marine Microbial Communities in Gigablue’s Field Experiment
Storage tanks at the Northern Lights carbon capture and storage project, controlled by Equinor ASA, Shell and TotalEnergies, at Blomoyna, Norway, on Friday, Jan. 19, 2024. Part of a $2.6 billion network, the facility is set to pump climate-warming carbon dioxide from manufacturing sites in Europe into an untouched saline aquifer deep below the seabed. Photographer: Andrea Gjestvang/Bloomberg
There are limited commercial CCUS projects in Asia and the viability of the nascent technology is still in doubt. It involves capturing carbon dioxide emissions from large industrial facilities and permanently sequestering them in underground reservoirs.
With more than 1 billion tons of steel production a year in Asia coming from blast furnaces at the early stages of their life cycle, it’s important for the industry to advance technologies capable of decarbonizing existing assets, Ben Ellis, Vice President Marketing Sustainability at BHP, said in a statement.
The study is expected to conclude in 2026 and will focus on sites in Asia or Northern Australia.
The steel industry is one of the hardest to decarbonize due to its heavy dependence on coal, which is currently used as fuel to produce more than 70% of the global output. China aims to replace 15% of its output with electric arc furnaces by the end of this year.
Subscribe to the newsletter
Daily decarbonization data and news delivered to your inbox
Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.
Companies
Latest issues
-
Canada Set Alberta's Carbon Price at C$130. Here's the Catch.
Inside This Issue 🍁 Carney To Visit Calgary On Friday To Announce Industrial Carbon Pricing Deal, Sources Say 🚆 Frontier Advances CO₂-By-Rail System With Key Carbon Market Milestones ⛽ US House Pa...
-
They're Capturing Carbon With Baking Powder. It's Working.
Inside This Issue 🧬 Caravel Bio Accelerates Cost-Efficient Carbon Capture With Novel Protein Engineering 🧂 Akros Energy Inaugurates Pilot Plant For Salt-Based Hydrogen Storage 🍁 Anaergia’s Rhode I...
-
The Island That Couldn't Make Its Own Fuel Just Did
Inside This Issue ✈️ Par Pacific's Kapolei Biorefinery Is Now Making SAF in Hawaii ⛽ IRFA Confident Year-Round E15 Will Receive Strong, Bipartisan Support During May 13 House Vote 🛩️ LanzaTech Sel...
Company Announcements
-
Ames, Iowa (May 13, 2026) —Summit Carbon Solutions announced today that it is refining portions of its proposed Iowa project footprint to focus on the strongest and most efficient path forward, hel...
-
US House Passes Bill Allowing Year-Round Sales of E15 Gasoline
Summary House vote follows failed attempts in 2024 and 2026 to secure year-round E15 sales Senate approval and Trump's signature are still required for bill to become law Congressional Budg...
-
Frontier Advances CO₂-by-Rail System With Key Carbon Market Milestones
Milestones with Puro.earth & Wild Assets advance Frontier's CO₂-by-rail platform and expand market pathways for ethanol producers DALLAS, May 14, 2026 /PRNewswire/ -- Frontier Infrastructure H...
-
HOUSTON, May 14, 2026 (GLOBE NEWSWIRE) -- Geokiln Energy Innovation Inc., a U.S.-based clean technology company has signed a Memorandum of Understanding (MOU) with the Ras Al Khaimah Energy Authori...