Page 6 - GLNG Week 06 2022

GLNG COMMENTARY GLNG

Petronas steps up CCS push

Malaysia’s Petronas has signed an MoU with JAPEX on carbon capture

and storage collaboration, in the latest of a series of announcements

relating to the technology

ENERGY MALAYSIA’S Petronas has unveiled another col- Under the MoU, the two companies intend
TRANSITION laboration on carbon capture and storage (CCS), to evaluate optimal CCS and CO2 transporta-
marking the latest in a series of announcements tion methods, as well as estimation of emissions
WHAT: relating to its work on the technology. The news and capture volumes and monitoring of stor-
Petronas has signed a comes as both Petronas and Malaysia as a whole age capacity. The partnership will also explore
series of agreements target net-zero greenhouse gas (GHG) emissions options for capturing and transporting CO2
to collaborate on CCS by 2050. from the Petronas LNG complex in Bintulu and
opportunities with CCS is anticipated to play a major role in the from outside Malaysia in the future.
various companies. decarbonisation of the oil and gas industry. The Petronas anticipates leveraging JAPEX’s expe-
technology is still in its early stages, with only rience with the Tomakomai CCS demonstration
WHY: a handful of existing projects operating to cap- project – Japan’s first full-chain CCS project,
The company has a ture the emissions from oil and gas facilities to developed by Japan CCS, in which JAPEX is an
target of net-zero GHG date. But the CCS industry is set to expand sig- investor.
emissions by 2050 and is nificantly over the coming years, and Petronas’ The collaboration with JAPEX is the latest
exploring options to help series of announcements shows that this will of four CCS-focused partnerships that Pet-
meet that goal. likely be playing out in Malaysia, among other ronas has formed over the past few weeks. In
countries. November, the company signed an MoU with
WHAT NEXT: ExxonMobil to jointly assess the viability of CCS
A final investment CCS collaborations projects offshore Peninsular Malaysia.
decision on the Kasawari On January 28, Petronas announced that it had In December, Petronas said it had signed an
CCS project, which signed a memorandum of understanding (MoU) MoU with steelmaker Posco International and
Petronas says could be with Japan Petroleum Exploration (JAPEX) to Posco Engineering & Construction to jointly
one of the world’s largest, collaborate on CCS opportunities in Malaysia. explore CCS technologies. The plans under that
could come this year. Petronas noted that this would include collabo- MoU were described in similar terms to those
ration on suitable carbon dioxide (CO2) storage under the one signed with JAPEX last week.
options for the country. At the time, Petronas’ executive vice-president

P6 www. NEWSBASE .com Week 06 11•February•2022