Malaysia’s energy giant Petronas has agreed to strengthen its collaboration with Japan’s Ministry of Economy, Trade and Industry (METI) and the Japan Organization for Metals and Energy Security (JOGMEC) on cross-border CO2 transportation from business to business for carbon capture and storage (CCS) projects.
“Through this collaboration, partners would be able to establish a deeper understanding on crucial aspects pertaining to the viability of CCS value chain as a solution for reducing greenhouse gas emissions within the respective business landscapes,” commented Petronas head of carbon management, Emry Hisham Yusoff.
CCS is one of the solutions to significantly reduce CO2 emissions into the atmosphere. However, as suitable storage sites are not available in all regions, cross-border CO2 transportation is required to enable regional collaborations to achieve attainable and significant affect, noted Petronas.
The trio recently signed a memorandum of cooperation (MoC) that seeks to strengthen the cooperation on cross boundary CCS projects between Japan and Malaysia, taking into consideration the common interest in building a CCS value chain and business model for future carbon neutrality to enhance economic, industrial and social development.
The MoC is also intended to facilitate the exchange of key information on CCS between Petronas and relevant Japanese industries, including exchanges of information on country specific laws and regulations relating to CCS. The parties may also explore CCS and related cooperation with key partners including Japanese companies supported by JOGMEC.
