Japan's JGC, JX Nippon eye CCS development in Malaysia
SUMMARY
The Japanese companies will work with Malaysian state energy company Petronas.
By Shardul SharmaPOSTED IN:
Japan's JGC Holdings Corp. and JX Nippon Oil and Gas Exploration Corp. have signed a memorandum of understanding with state-owned Petronas to study the potential of carbon capture and storage (CCS) in Malaysia, JGC said on October 4.
The study targets not only CO2 from Malaysia but also seeks to expand the possibility of permanently storing CO2 from countries like Japan. JGC, JX, and Petronas will construct the entire CCS value chain, from CO2 separation, capturing, transportation, injection, and storage.
JGC said the study may also lead to opportunities in other related businesses such as low-carbon solutions and blue hydrogen or blue ammonia, which would help accelerate the energy transitions in Asia.
In September, Petronas penned a memorandum of cooperation with Japan’s ministry of economy, trade and industry (METI) as well as a memorandum of understanding with the Japan Bank for International Cooperation (JBIC) to pursue mutual sustainability goals of achieving carbon neutrality by 2050.
