Singapore LNG Corp (SLNG) – a natural gas major and Linde Gas Singapore – the world’s largest industrial gas company by market share and revenue, announced on Monday, November 29th their agreement to explore the feasibility and development of a carbon dioxide liquefaction and storage facility.
The memorandum of understanding states that the facility would use cold energy from Singapore LNG’s liquefied natural gas (LNG) terminal‘s operations to liquefy CO2 which would then be stored in tanks on site before being transported for end-use. According to both companies, if feasible, it would be the first of its kind project in Singapore and the region.
Singapore LNG Corp owns and operates the nation’s sole LNG terminal, located on a 40-hectare plot at the Southern tip of Jurong Island. According to the company’s chief executive Tan Soo Koong, the project will allow SLNG to realize its cold energy recovery objectives with a two-fold benefit – cold energy recovery with high efficiency and effective liquefaction and storage to reduce CO2 emissions.
Singapore is also a country with high decarbonization ambitions. It aims to realize at least 2 million tons of carbon capture potential by 2030. It also hopes to make the Jurong Island oil refinery hub more sustainable.
Other oil and gas companies like Exxon are also exploring carbon capture opportunities in the country. ExxonMobil announced recently in October that it believes there is over 300 billion tons of storage capacity in Southeast Asia. The company is moving forward with its planning announced in 2021 to create a carbon capture and storage hub in the Singapore region to serve Southeast Asia.
Oil and gas majors in Singapore are expanding on carbon capture opportunities. A CO2 liquefaction and storage facility would fill in a gap in the industry that takes care of the emissions already captured.