In addition, CVX has agreed to farm down 5% of its equity in the permit to GS Caltex of Korea, subject to regulatory approval. This partnership not only broadens CVX's operational footprint but also aligns with its objective to leverage global expertise and resources for CCS deployment. Significance of CSS in Australia's Energy FutureCCS is increasingly recognized as a critical technology in the global push to achieve net-zero emissions by 2050. According to the International Energy Agency, achieving global net-zero goals will be virtually impossible without large-scale adoption of CCS technologies.