Malaysian energy giant Petronas has forged another energy transition partnership as it advances the nation and the region’s carbon capture and storage ambitions.
Petronas and Dutch tank storage company Vopak on Monday signed a memorandum of understanding to develop the value chain for CCS in Southeast Asia. One of the key initiatives will see the companies jointly focus on the carbon dioxide emitted by industries in Singapore.
The study work will include transportation of CO2 from a Vopak terminal for potential injection into the regional storage hubs developed by Petronas. The aggregation of CO2 emissions from various emitters in the Southeast Asia region is also part of the feasibility study.
Both companies have the intention to invest in the development of CCS value chain solutions, noted Vopak.
The Dutch company said there is growing interest worldwide in the reduction of CO2 emissions released into the atmosphere as well as in CO2 capture and storage, as both play a crucial role in mitigating climate change.
“We are excited about this project with our long-term partner Petronas to jointly collaborate. This is well aligned with our commitment to support the energy transition through development of CO2-infrastructure for sustainable energy solutions and the decarbonisation of the industry,” commented Chris Robblee - president Vopak Asia & Middle East.