Petronas signs MoU with six South Korean companies to explore opportunities in CCS value chain

PETRONAS today signed a Memorandum of Understanding (MoU) with six South Korean companies to undertake conceptual and feasibility studies towards establishing a full value chain related to carbon dioxide (CO2) capture, transport and storage, according to the company's release.
 
The six companies are Samsung Engineering Co., Ltd., Samsung Heavy Industries, SK Earthon Co., Ltd., SK Energy Co., Ltd., GS Energy Corporation and Lotte Chemical Co.
 
The MoU will also involve the evaluation of potential CO2 storage sites in Malaysia and exploration of other areas across the CCS value chain, including the strengthening of cross-border CO2 transportation.
 
This collaboration is part of PETRONAS’ deliberate steps to build a sustainable portfolio with innovative solutions to produce energy responsibly, supporting the transition to a lower carbon future through collaborative efforts with industry partners.