Petronas, Storegga join forces on CCS

Carbon storage developer Storegga and Malaysian energy company Petronas have signed a memorandum of understanding to study the potential for the development of carbon capture and storage (CCS) hub and cluster projects in Malaysia, Storegga said on November 2.

The phased work will explore collaboration on CCS and related projects in Malaysia and internationally, including the potential development of projects in direct air capture (DAC), the company said.

In the first phase, the companies will work together to develop the CCS commercial strategy and to establish enablers and associated drivers. Areas of potential cooperation include sharing knowledge on the global status of CCS, the economics of CCS, and potential business models as well as developing integrated solutions for emitters.

The second phase involves Storegga and Petronas exploring collaboration on CCS or related projects in Malaysia and internationally as well as the development of projects adjacent to CCS such as DAC.