PETRONAS has signed a Memorandum of Understanding (MoU) with Japan Petroleum Exploration Co., Limited (JAPEX) to collaborate on carbon capture and storage (CCS) opportunities, including suitable carbon dioxide (CO2) storage solutions in Malaysia.

Under the MoU, PETRONAS and JAPEX will perform technical maturation activities to unlock potential CCS solutions, which includes evaluating optimal capture, storage and transportation methods, as well as estimation of emissions, capture volumes and monitoring methods of CO2 stored underground. This joint study will cover consideration of methods to capture and transport CO2 from the PETRONAS LNG Complex in Bintulu and from outside Malaysia as a future possibility.

Signing the MoU on behalf of PETRONAS was Executive Vice President and Chief Executive Officer of Upstream, Adif Zulkifli, while JAPEX was represented by Representative Director and Executive Vice President, Kazuhiko Ozeki. The signing was witnessed by Japan’s Ministry of Economy, Trade and Industry representative, Takeshi Soda and PETRONAS’ Head of CCS Enterprise Unit, Upstream, Nora’in Md Salleh.

Adif said, “We look forward to our partnership with JAPEX to position Malaysia as a leading CCS solutions hub in the region. This collaboration allows PETRONAS to leverage JAPEX’s experience in the Tomakomai CCS Demonstration Project, Japan’s first full-chain CCS project, conducted by Japan CCS Co., Ltd. We are confident that it will bring about valuable contributions in the Technical Maturation Study to unlock CCS potential in the country.”

CCS is a combination of existing technologies that capture and store CO2 deep underground, so it is not emitted into the atmosphere. CO2 is separated from the gases produced by industrial processes such as steel and cement production or from the burning of fossil fuels, transported to locations where it can be stored in geological repositories deep underground, in turn, reducing emissions into the atmosphere.

This is part of PETRONAS’ deliberate steps in building a resilient and sustainable portfolio that support the transition towards a lower carbon future, through collaborative efforts with industry partners.

About Petronas

Established in 1974, Petroliam Nasional Berhad (PETRONAS) is a global energy and solutions company, ranked amongst the largest corporations on Fortune Global 500®️. As an integrated global LNG producer with over 37 years of experience, PETRONAS provides an uninterrupted supply of LNG to more than 25 countries around the world. PETRONAS has safely delivered more than 11,000 cargoes globally, sourced from its portfolio of facilities located in Malaysia, Australia and Egypt. PETRONAS is also the first global energy player to introduce the floating LNG concept in 2016, the PFLNG SATU, and introduced its deep-water FLNG, the PFLNG DUA, in 2021.

About Japex

JAPEX is engaged in projects in Japan and overseas that span the E&P value chain, from exploration, development, production and transportation to supply for long-term stable supply of energy.

Recently JAPEX has been focusing on three main business areas; E&P Business as our core business, Domestic Natural Gas Supply Business as stable supply and growth its volume of natural gas for clients, and Environment and Innovative Technology Business as new energy development utilizing our accumulative technologies and insights through E&P business.

Furthermore, JAPEX is aiming to “Transform to an Integrated Energy Company with a Focus on E&P” to expand our business area wider related to oil and gas E&P.