Malaysian energy group Petronas announced yesterday that it has signed an agreement with TotalEnergies Carbon Neutrality Ventures and Mitsui & Co. Ltd., to work together for a carbon capture and storage in the country.
According to a report in Reuters, the partnership will work on the development of the carbon capture project from its initial phases of identifying and evaluating suitable fields for the storage of CO2, as well as identifying demand, developing customer relationships and the necessary regulations and legal frameworks.
The contract was signed at the beginning of this week and comes after an MoU was agreed upon last year.
Petronas has become increasingly active in the carbon capture area and has started multiple initiatives with ExxonMobil, Vopak and JX Nippon.
Read more: Petronas And JX Nippon To Build First CCS Project In Malaysia
