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Petronas, TotalEnergies and Mitsui ink carbon capture and storage project deal
Quick Summary
KUALA LUMPUR (Reuters) – Petronas said on Tuesday it has signed a development agreement with TotalEnergies Carbon Neutrality Ventures and Mitsui & Co. Ltd., to collaborate on a carbon capture and storage (CCS) project in Malaysia.
Petronas, TotalEnergies and Mitsui ink carbon capture and storage project deal
KUALA LUMPUR (Reuters) – Petronas said on Tuesday it has signed a development agreement with TotalEnergies Carbon Neutrality Ventures and Mitsui & Co. Ltd., 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 carbon capture and storage (CCS) process captures carbon dioxide (CO2) generated from industrial activity, transports it, and then stores it underground.
(Reporting by Mei Mei Chu; Writing by Jeslyn lerh; Editing by Shri Navaratnam)
Frequently Asked Questions about Petronas, TotalEnergies and Mitsui ink carbon capture and storage project deal
1What is carbon capture and storage (CCS)?
Carbon capture and storage (CCS) is a process that captures carbon dioxide (CO2) emissions from industrial activities, transports it, and stores it underground to prevent it from entering the atmosphere.
2What are saline aquifers?
Saline aquifers are underground layers of rock that contain salty water and can be used for storing carbon dioxide as part of carbon capture and storage initiatives.
