Petroliam Nasional Bhd (Petronas) has signed a memorandum of cooperation (MOC) with Japan’s Ministry of Economy, Trade and Industry (Meti) and the Japan Organisation for Metals and Energy Security (Jogmec), to strengthen collaboration on cross-border carbon dioxide (CO2) transportation from business to business for carbon capture and storage (CCS) projects.(Photo: Wikipedia)
Such a treaty seems to be promising for maritime transportation for the upcoming projects.
CCS is one of the solutions to significantly reduce CO2 emissions into the atmosphere. However, as suitable storage sites are not available in all regions, cross-border CO2 transportation is required to enable regional collaborations to achieve attainable and significant effects.
The MOC signed between these parties would strengthen the cooperation on cross-boundary CCS projects between Japan and Malaysia, taking into consideration the common interest in building a CCS value chain, the national oil company said in a statement.
Petronas head of carbon management Emry Hisham Yusoff said “through this collaboration, partners would be able to establish a deeper understanding of crucial aspects pertaining to the viability of the CCS value chain as a solution for reducing greenhouse gas emissions within the respective business landscapes”.
Petronas is championing CCS as a key solution in addressing emissions from its operation, as well as local industries. “Recognising the importance of regional collaboration in addressing climate change, Petronas continues to form strategic partnerships as part of its deliberate steps in building a resilient and sustainable portfolio,” it said.
source: theedgemalaysia.com