Japan is set to discuss opportunities to store its carbon dioxide with Malaysia, as reported by the Nikkei newspaper.
Yasutoshi Nishimura, Japan’s Economy minister is said to have a meeting with executives of Malaysia’s state-owned oil giant Petronas during several conferences on decarbonization hosted by Japan.
The conferences commenced this week and it is expected that the state officials of both sides will sign a memorandum of understanding (MoU) for the joint project.
In a major push to reach carbon neutrality by mid-century, the Japanese government and its bigger industry players have been exploring opportunities to store the nation’s captured CO2 emissions overseas.
As it were, the nation’s geology does not provide the ideal conditions for safe and permanent carbon storage, which results in the need to partner with other nations.
So far, Japan has been looking into the offshore carbon storage potential in Australia, but if negotiations with Malaysia and its oil company are successful, this would be among the first official projects of this kind, aiming to kick off in 2028.