Malaysia is pursuing an ambitious initiative to advance the region’s carbon capture and storage (CCS). National energy firm Petronas has inked a Memorandum of Understanding (MoU) with six South Korean firms to undertake conceptual and feasibility studies on an entire value chain related to carbon dioxide (CO2) capture, transport, and storage.
The six companies are Samsung Engineering Co., Ltd., Samsung Heavy Industries, SK Earthon Co., Ltd., SK Energy Co., Ltd., GS Energy Corporation, and Lotte Chemical Co. The partners will examine additional CO2 storage sites in Malaysia and explore other areas in the CCS value chain, such as strengthening cross-border CO2 transportation. PETRONAS Head of Carbon Management, Emry Hisham, said the feasibility studies would identify suitable technologies for the CCS and transportation value chain, with a prime goal of establishing Malaysia as a leading regional CCS solutions hub.
The firm has been leading the steps to develop a sustainable portfolio with innovative energy production solutions while enabling the shift to a lower carbon future through cooperative efforts with industry partners. In recent years, Petronas has signed a collaborative agreement with ExxonMobil, Shell, POSCO, JAPEX, and Mitsui OSK Lines for cooperation in CCS-related fields. It plans to create an entire ecosystem in Malaysia for CCS development by accumulating technological and commercial expertise from various stakeholders.
(Sources: Petronas; The Star Online; Clean Energy News)