BHP Group (ASX:BHP) joined an industry consortium with steelmakers ArcelorMittal, Nippon Steel India, JSW Steel, and Hyundai Steel Company, as well as Chevron and Mitsui, to undertake a pre-feasibility study to assess the development of carbon capture, utilization, and storage hubs across Asia, according to a Friday statement.

The modified blast furnace pathway, including carbon capture, utilization, and storage, mentioned in the decarbonation plans of 14 of the leading 20 steelmakers, describes potential reductions for our customers' existing operations.

Capturing carbon dioxide from blast furnace gas, or with utilization or storage, could potentially reduce the carbon dioxide intensity of steel production by 15% to 35%.