Kuala Lumpur, 19 February 2021 – PETRONAS has signed a Memorandum of Understanding (MoU) with Japan Petroleum Exploration Co., Limited (JAPEX) to collaborate on carbon capture and storage (CCS) opportunities, including suitable carbon dioxide (CO2) storage solutions in Malaysia.
Under the MoU, PETRONAS and JAPEX will perform technical maturation activities to unlock potential CCS solutions, which includes evaluating optimal capture, storage and transportation methods, as well as estimation of emissions, capture volumes and monitoring methods of CO2 stored underground. This joint study will cover consideration of methods to capture and transport CO2 from the PETRONAS LNG Complex in Bintulu and from outside Malaysia as a future possibility.
Signing the MoU on behalf of PETRONAS was Executive Vice President and Chief Executive Officer of Upstream, Adif Zulkifli, while JAPEX was represented by Representative Director and Executive Vice President, Kazuhiko Ozeki. The signing was witnessed by Japan’s Ministry of Economy, Trade and Industry representative, Takeshi Soda and PETRONAS’ Head of CCS Enterprise Unit, Upstream, Nora’in Md Salleh.
Adif said, “We look forward to our partnership with JAPEX to position Malaysia as a leading CCS solutions hub in the region. This collaboration allows PETRONAS to leverage JAPEX’s experience in the Tomakomai CCS Demonstration Project, Japan’s first full-chain CCS project, conducted by Japan CCS Co., Ltd. We are confident that it will bring about valuable contributions in the Technical Maturation Study to unlock CCS potential in the country.”
CCS is a combination of existing technologies that capture and store CO2 deep underground, so it is not emitted into the atmosphere. CO2 is separated from the gases produced by industrial processes such as steel and cement production or from the burning of fossil fuels, transported to locations where it can be stored in geological repositories deep underground, in turn, reducing emissions into the atmosphere.
This is part of PETRONAS’ deliberate steps in building a resilient and sustainable portfolio that support the transition towards a lower carbon future, through collaborative efforts with industry partners.
