Malaysia’s national energy company Petronas and independent risk management and assurance company DNV are teaming up on carbon capture, utilisation and storage (CCUS) initiatives.
The duo will address the technical, regulatory and business challenges of CCUS deployment, particularly in the Southeast Asian region, by bringing together both organisations' technical skills, resources and research capabilities.
In a memorandum of understanding agreement signed this month, DNV and Petronas will collaborate on technical issues including safety, environment, risk, technology, the qualification of storage sites, legislation and regulation, capability development and commercial areas.
DNV, which has over 20 years experience in CCUS, has been involved in research on key factors including geological storage, pipeline reuse and the shipment of carbon dioxide and has also published recommended practices covering the full CCUS value chain.
"CCUS will play a crucial role in Asia’s energy transition. Through this initiative we aim to address a number of areas fundamental to the establishment of regional hubs and thereby enable greater access to CCUS infrastructure," said Jamie Burrows, head of business development CCUS, energy systems at DNV.
DNV’s Energy Transition Outlook 2021 reports on fossil fuels remaining a primary energy source for Southeast Asia, accounting for 75% of total demand in 2030 and 43% in 2050, despite strong growth in renewables.
But Brice Le Gallo, vice president and regional director Asia-Pacific energy systems at DNV, said that accelerating a clean energy transition has “never been more vital”.
“Under this scenario, carbon capture and removal will be critical because the emissions generated by fossil fuel use in hard to abate industrial applications will need to be addressed. In order to transition to clean energy, we need more tools beyond renewable energy and this tool kit must include CCUS,” he continued.
“Implementing CCUS at scale will require navigating technology, business, regulations and policy which is why we believe this collaboration will be important for deployment in the region.”