Act on Carbon Dioxide Storage Business (Act No. 38 of 2024).

The purpose of this Act is to support global efforts towards decarbonization of energy and minerals, reduce environmental impact from energy use, and ensure stable storage of carbon dioxide. The Act aims to regulate the proper operation of storage and pipeline transport projects, ensure safety of related infrastructure, promote healthy development of these projects, preserve marine environments, and contribute to public safety, national living standards, and economic growth.
The Act is divided into several chapters, covering general provisions, exploration of storage layers, land use and acquisition, compensation for damages, miscellaneous provisions, and penalties for violations. The Act establishes a framework for implementing carbon dioxide storage and transportation projects in Japan and overseas. The Act indicates that exploration rights and storage rights shall be created, that the Minister of Economy, Trade and Industry shall grant a license to the operator, and that the operator shall contribute funds for post-storage monitoring. Additionally, the Act specifies the payment of fees for certain applications and provides guidelines for the approval process. The Act also addresses the inspection and approval of project plans, allowing for modifications or cancellations if plans do not meet specified criteria. The Minister of Economy, Trade, and Industry is responsible for reviewing project plans and may extend review periods if necessary. The Act also clarifies procedures for land acquisition and use permits, ensuring compliance with legal requirements.