Petronas, TotalEnergies and Mitsui to develop CO2 storage off Peninsular Malaysia

· Energy · Malaysia

PETRONAS CCS Ventures, a wholly owned subsidiary of Malaysia's state oil and gas firm Petronas, together with TotalEnergies EP CCS Malaysia and Mitsui, will develop a CO2 storage area offshore Peninsular Malaysia. The partners are positioning the site as part of the region's emerging carbon capture and storage business, which oil and gas companies are pursuing as a way to keep hydrocarbon operations viable under decarbonisation pressure. The agreement covers development of the storage area itself.

Why it matters：Cross-border CCS hubs are becoming a strategic asset for oil and gas producers in Asia, and this partnership shows how national oil companies and international majors are dividing the work.

Key points

  • The partners are PETRONAS CCS Ventures, TotalEnergies EP CCS Malaysia and Mitsui.
  • The storage area is offshore Peninsular Malaysia.
  • The project is a CCS development.

Sources (original reporting)

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