TotalEnergies, Petronas, and Mitsui signed an agreement to develop a carbon storage project in Southeast Asia.
The partners will evaluate several CO2 storage sites in the Malay basin, including both saline aquifers and depleted offshore fields.
In Asia, development of a carbon capture and storage (CCS) value chain for industrial emissions will require a specific regulatory framework and significant investment, TotalEnergies said in a release June 26.
Through the agreement, the partnership will study potential storage sites, determine the best technical means to deliver CO2 to Malaysia from industrial clusters in the region, and develop the most appropriate business framework for commercialization of a carbon storage service in Malaysia, TotalEnergies said.
Additional details were not provided.