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Jon R. Ornolfsson

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Jon Ornolfsson is a partner in the Finance & Projects Group of the Firm's Tokyo office. He advises market-leading multinational and Asia-based clients on energy and infrastructure projects around the world. Based in Asia since 2007, Jon has advised on many of the highest-profile energy transactions across the Asia Pacific region in recent years. His broad client base includes leading Japanese trading houses and energy companies, other global project developers and sponsors, and a number of Asian host government entities. Jon is an active member of various energy industry organizations. He serves on the steering committee of the Association of International Energy Negotiators (AIEN) Asia chapter, and he is also a regular moderator and speaker at leading industry conferences and thought leadership events.
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Japan: Publication of Draft Interim Summary of CCS Regulatory Framework

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The Ministry of Economy, Trade and Industry (METI)’s Carbon Capture and Storage (CCS) Long-term Roadmap Working Committee published its Final Report on the implementation of CCS in Japan in March 2023. This followed the Japanese Cabinet’s approval of the “Basic Strategy for the Realization of GX (Green Transformation)” a month earlier, which stated that legislation and a regulatory framework for CCS should be developed as soon as possible. METI began its deliberations in September 2023, resulting in the publication of its “Draft Interim Summary of the CCS Regulatory Framework” on 15 December 2023. This alert summarizes the clarified Japanese legal regime for CCS projects.