Petronas, Mitsui plan CCU value chain in Malaysia

State-owned Petronas has signed a memorandum of understanding (MoU) with Japan’s Mitsui & Co. for the feasibility studies on carbon capture and storage (CCS) value chain, including the evaluation of carbon dioxide (CO₂) storage sites in Malaysia, it said on June 29. 

Under the MoU, both parties will evaluate potential CO₂ storage sites offshore Peninsular Malaysia. The scope of collaboration covers the evaluation of other CCS value chain, capturing and gathering strategy of CO₂ from various industries, competitive transportation of the CO₂ and emerging technology in direct air capture.

This collaboration, Petronas said, is part of its steps to build a sustainable portfolio to support the transition towards climate change and subsequently participate in lower carbon energy play, through collaborative efforts with industry partners.