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2 clusters · 5 sources · 3 days · First seen · Last updated

Malaysian offshore carbon storage joint venture

Overview

Petronas, TotalEnergies, and Mitsui & Co. have entered into a joint venture agreement to develop offshore carbon dioxide (CO2) storage sites in Peninsular Malaysia. This initiative is a primary element of the Southern Carbon Capture and Storage (CCS) Hub, which seeks to position Malaysia as a decarbonization center for the Asia-Pacific region.

The project’s initial phase targets a depleted offshore gas field with a capacity to inject up to five million tonnes of CO2 annually. The partners aim to commence injection operations as early as 2031, contingent upon industry readiness. The hub is designed to serve domestic and regional hard-to-abate industries, including the potential for cross-border CO2 shipments. The companies are moving forward with technical and commercial development activities toward a final investment decision.

Entities

Petronas · TotalEnergies · Malaysia · Mitsui & Co. · Mitsui & Co

Timeline

  1. [BUSINESS] 2 sources
    PETRONAS, TotalEnergies, and Mitsui form joint venture for Malaysia CCS hub

    PETRONAS, TotalEnergies, and Mitsui have formed a joint venture to develop Malaysia’s Southern CCS Hub, targeting CO2 injection capacity of five million tonnes annually by 2031.

  2. [BUSINESS] 3 sources
    Petronas, TotalEnergies, and Mitsui form joint venture for Malaysian carbon storage

    Petronas, TotalEnergies, and Mitsui & Co will form a joint venture to develop offshore CO2 storage in Malaysia, targeting operations by 2031.

Sources

bairdmaritime.com · businessnews.com.my · petronoticias.com.br · toray.co.jp · utusan.com.my