Climate Change

03 Apr 2024

Malaysia's Petronas Inks Deal with JERA to Study Carbon Capture and Storage

03 Apr 2024  by reuters   

Petronas logos are pictured at a fuel station in Serdang, Malaysia March 4, 2021. REUTERS/Lim Huey Teng/File Photo Purchase Licensing Rights
Malaysian state-run energy firm Petronas (IPO-PETO.KL), opens new tab said on Tuesday it has signed a joint study agreement with Japanese power generation company JERA to evaluate the feasibility of the carbon capture and storage (CCS) value chain.

The study will evaluate separation and capture of carbon dioxide (CO2) emitted by JERA in Japan, cross-border transportation, and CO2 storage in Malaysia.

The company did not disclose financial details of the agreement.

The partnership was made in an effort to reduce greenhouse gas emissions in the Asia Pacific region, especially in Malaysia and Japan, Petronas said in a statement.

The company is also considering new investments in the Atlantic Basin for its liquefied natural gas business, according to statements by a senior executive last month.

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