Petronas has signed a memorandum of understanding (MoU) with Mitsui & Co., Ltd. (Mitsui & Co.) for the study of the carbon capture and storage (CCS) value chain, including the evaluation of carbon dioxide (CO2) storage sites in Malaysia.
Emry Hisham, PETRONAS Head of Carbon Management, and Yasuchika Maruyama, Mitsui & Company’s General Manager of Sustainability Energy Development Division, signed the MoU in a virtual ceremony on 13 June 2022.
Both parties will evaluate potential CO2 storage sites offshore Peninsular Malaysia in line with PETRONAS’s goal to establish Malaysia as a regional hub for CCS in Asia Pacific. In order to advance in these areas, PETRoNAS and Mitsui & Co. will combine their strengths, networks, and expertise.
Emry said, “We are confident that the feasibility studies will bring about valuable contribution in unlocking CCS potential in Malaysia. This is one of the many efforts to establish Malaysia as a leading CCS solutions hub in the region.”
PETRONAS is collaborating with industry partners as part of its deliberate steps to build a sustainable portfolio to support the transition toward climate change.