On October 23, Petronas, Total Energy and Mitsui & Co. announced the signing of a joint venture agreement to jointly develop a carbon dioxide storage area off the Malaysian peninsula as an important part of the carbon capture and storage center in southern Malaysia. The first phase of the project plans to use a depleted gas field off the Malaysian peninsula. It is estimated that up to 5 million tons of carbon dioxide can be injected every year. The target is to start injecting as early as 2031. The three parties will establish a special joint venture to promote project development, commercialization and operation, and further improve technical and commercial plans before making final investment decisions.
Zhitongcaijing · 2d ago
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On October 23, Petronas, Total Energy and Mitsui & Co. announced the signing of a joint venture agreement to jointly develop a carbon dioxide storage area off the Malaysian peninsula as an important part of the carbon capture and storage center in southern Malaysia. The first phase of the project plans to use a depleted gas field off the Malaysian peninsula. It is estimated that up to 5 million tons of carbon dioxide can be injected every year. The target is to start injecting as early as 2031. The three parties will establish a special joint venture to promote project development, commercialization and operation, and further improve technical and commercial plans before making final investment decisions.
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