MoU Between PETRONAS And Six South Korean Companies

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PETRONAS signs a Memorandum of Understanding with six South Korean companies, says Petronas.

  • The MoU undertakes conceptual and feasibility studies toward establishing a full value chain related to carbon dioxide capture, transport and storage.
  • Evaluation of potential CO2 storage sites in Malaysia and others across the area is under the MoU.

Signatories

The six companies involved are Samsung Engineering Co., Ltd., Samsung Heavy Industries, SK Earthon Co., Ltd., SK Energy Co., Ltd., GS Energy Corporation and Lotte Chemical Co. The signatories were high officials from all six companies. 

Collaboration

Strengthening of cross-border CO2 transportation is also under the talks. Emry said, “The feasibility studies undertaken through this collaboration will identify suitable technologies for the CCS and transportation value chain, bringing PETRONAS closer towards establishing Malaysia as a leading regional CCS solutions hub.” This collaboration is part of PETRONAS’ deliberate steps to build a sustainable portfolio with innovative solutions to produce energy responsibly, supporting the transition to a lower carbon future through collaborative efforts with industry partners.

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Source: PETRONAS

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