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SUMMARY

Petronas has signed the MoU with Samsung Engineering Co., Samsung Heavy Industries, SK Earthon Co., SK Energy Co., GS Energy Corporation and Lotte Chemical Co.

By Shardul Sharma

Malaysian state-owned Petronas has signed a memorandum of understanding (MoU) with six South Korean companies to undertake conceptual and feasibility studies to develop a full value chain related to CO2 capture, transport and storage, it said on August 2.

Petronas has signed the MoU with Samsung Engineering Co., Samsung Heavy Industries, SK Earthon Co., SK Energy Co., GS Energy Corporation and Lotte Chemical Co.

The MoU will also involves the evaluation of potential CO2 storage sites in Malaysia and exploration of other areas across the CCS value chain, including the strengthening of cross-border CO2 transportation.

Petronas said this collaboration is part of its plan to build a sustainable portfolio with innovative solutions to produce energy responsibly, supporting the transition to a lower carbon future through collaborative efforts with industry partners.

Petronas earlier this year signed an MoU with Japan Petroleum Exploration to conduct a joint study for CCS in Malaysia.