PETRONAS, TotalEnergies, Mitsui sign JV for Malaysia CCS hub

· Lubricants & Chemicals · Malaysia · France

PETRONAS CCS Ventures Sdn. Bhd. (PCCSV), a subsidiary of Petroliam Nasional Bhd, TotalEnergies EP CCS Malaysia and Japan's Mitsui & Co. have signed a joint venture agreement to develop a carbon dioxide carbon capture and storage (CCS) hub. The partners will work together on the CCS development, according to the announcement. The project brings together a national oil company, a European energy major and a Japanese trading house in a cross-border CCS collaboration. CCS hubs are seen as one route for industrial emitters to cut emissions, and this agreement adds to a growing set of such partnerships in Southeast Asia.

Why it matters：Cross-border CCS hubs are a growing route for industrial emitters to cut emissions, and this tie-up shows national oil companies partnering with global energy and trading firms.

Key points

  • Signed by PCCSV, TotalEnergies EP CCS Malaysia and Mitsui & Co.
  • Aim is to develop a CO2 CCS hub
  • PCCSV is a subsidiary of PETRONAS

Sources (original reporting)

More stories from this day