TotalEnergies in partnership to develop SE Asia CCS
SUMMARY
TotalEnergies, Petronas and Mitsui to evaluate carbon storage sites in Malay Basin.
By Dale LunanPOSTED IN:
French major TotalEnergies said June 26 it had entered into an agreement with Malaysia’s Petronas and Japan’s Mitsui to develop a carbon storage project in Southeast Asia.
The partners intend to evaluate several potential CO2 storage sites – both saline aquifers and depleted fields – in the Malay Basin, offshore West Malaysia in the South China Sea. The partnership would develop a CO2 merchant storage service to provide decarbonisation solutions to industries in Asia.
“We will bring to the partnership our strong carbon capture and storage (CCS) expertise, anchored in Europe with a first integrated project in Norway due to start next year and several other projects that will contribute to meeting our carbon storage capacity target of 10mn tonnes/year by 2030,” TotalEnergies CEO Patrick Pouyanne said.
The agreement was signed in Kuala Lumpur on the opening day of the Energy Asia event.
In Asia, the development of a CCS value chain for hard-to-abate industries will require a specific regulatory framework and significant investment, TotalEnergies said. The partnership will study several potential storage sites, determine the best technical means to deliver CO2 to Malaysia from industrial clusters in the region and develop the most appropriate business framework for commercialising carbon storage in Malaysia.
