Petronas, TotalEnergies and Mitsui ink carbon capture and storage project deal
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
PETRONAS said on Tuesday (Jun 27) it has signed a development agreement with TotalEnergies Carbon Neutrality Ventures and Mitsui & Co, to collaborate on a carbon capture and storage (CCS) project in Malaysia.
The agreement will cover all aspects of CCS development, from evaluating maturing depleted field and saline aquifers for storage, to identifying potential customers and establishing the necessary commercial and legal frameworks.
The deal, signed on Monday, follows a memoranda of understanding (MoU) signed by the companies earlier in 2022.
A CCS process captures carbon dioxide (CO2) generated from industrial activity, transports it, and then stores it underground. REUTERS
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Share with us your feedback on BT's products and services
TRENDING NOW
Singaporeans can now buy record amount of yen per Singdollar
Beijing’s calculated silence on the Iran war
China pips the US if Asean is forced to choose, but analysts warn against reading it like a sports result
StarHub hands Ensign InfoSecurity control back to Temasek in S$115 million deal, books S$200 million gain
