Vopak, Petronas sign MOU on carbon capture and storage for Singapore industrial emissions

DUTCH tank storage company Vopak has teamed up with Malaysia’s oil and gas company Petroliam Nasional Berhad (Petronas) to develop the value chain for carbon capture and storage in the South-east Asia region.

Both companies on Monday (Nov 21) signed a memorandum of understanding (MOU) with a focus on the carbon dioxide emitted by industries in Singapore. The two intend to eventually invest in the development of carbon capture and storage value chain solutions.

This includes transporting carbon dioxide from a Vopak terminal into the regional storage hubs developed by Petronas for potential injection.

Both groups will also be commissioning a feasibility study to aggregate carbon dioxide emission from various emitters in the region.

Vopak said the agreement comes as part of a commitment by the two companies to support the transition to a low carbon future.