06/08/2024 by OilStoreAdministrator
The Malaysian state-owned energy and lubricant company Petronas has agreed with Kuantan Port Consortium Sdn Bhd to rent land in Pahang, Malaysia.
This land is necessary to advance its planned hub for carbon capture and storage (CCS).
CCS is seen as a means to mitigate the emissions from the hydrocarbon and other hard-to-abate industries. For example, BP, the maker of the Castrol metalworking fluids, is supporting the construction of infrastructure in the UK to capture millions of tonnes of CO₂ and then transport and store it under the North Sea through its involvement in the Northern Endurance Partnership (NEP).
Nora’in Md Salleh, the CEO of Petronas’ CCS subsidiary, said that building a CCS hub in Malaysia would be needed to provide a means for the steel, cement, chemical, petrochemical and power generation industries to decarbonise and help the country reach net zero carbon emissions, adding:
“This hub, with its abundant storage capacity, also serves to connect all the industrial areas in the west of Peninsular Malaysia and the Asia Pacific that are embarking on decarbonisation. This project signifies our strong commitment to Malaysia in rolling-out the implementation of [the] National Energy Transition Roadmap (NETR).”
Petronas says the hub will be ideally located to support an integrated value chain for CCS, with it benefitting nearby communities by providing new opportunities for economic development. The first injection of carbon dioxide is expected to take place in 2029, thus helping industries both in Malaysia and overseas to mitigate their hard-to-abate emissions.
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