Vopak and Petroliam Nasional Berhad (PETRONAS) signed a Memorandum of Understanding (MoU) for the development of the value chain for CCS in the Southeast Asia region, according to the company's release.
As part of the MoU, both companies will jointly study the development of the CCS value chain focusing on the CO2 emitted by industries in Singapore. This includes CO2 transport from a Vopak terminal for potential injection into the regional storage hubs developed by PETRONAS. The aggregation of CO2 emissions from various emitters in the Southeast Asia region is also part of the feasibility study. Both companies have the intention to invest in the development of CCS value chain solutions.
This collaboration is aligned with both companies’ ambition to support the transition to a low carbon future.
The signatories of the MoU were Marina Surzhenko, Vopak Commercial, Business development and Energy Transition Director, and Emry Hisham, PETRONAS Head of Carbon Management.
Vopak is one of the world’s leading independent tank storage company.