Petronas sees Malaysia as future CCS hub
Malaysian energy company Petronas said December 17 it had signed a preliminary agreement with Korea’s POSCO Engineering and Construction to explore opportunities for carbon capture and storage (CCS) in the Malaysian market.
“Both parties will assess opportunities to unlock CCS potential and identify suitable technology within the scope of carbon capture, transportation of CO2 and storage for potential application,” Petronas said.
Petronas said it was deliberative in its approach to building a sustainable portfolio that aligns with the energy transition by embracing low-carbon energy resources as well as CCS technology.
Adif Zulkifli, the head of upstream operations at Petronas, said the Malaysian company was leaning on POSCO and its experience in CCS in the steel sector to help build up a potential new centre for carbon capture in the Asia-Pacific.
“This is one of the many efforts to establish Malaysia as a leading CCS solutions hub in the region,” he said.
In November, the Malaysian company joined Japan’s Sumitomo and Tokyo Gas in agreeing to a feasibility study for carbon-neutral methane for the Japanese market. The carbon-neutral methane will be produced in Malaysia by methanation, using green hydrogen from renewable energy and carbon dioxide.