AsianOil: TotalEnergies, Petronas, Mitsui team up on Malaysia CCS

France’s TotalEnergies has joined forces with Malaysia's Petronas and Japan's Mitsui to establish a carbon storage project in Southeast Asia. This collaboration aims to evaluate potential CO2 storage sites in the Malay basin, including depleted offshore fields and saline aquifers, with the objective of creating a CO2 merchant storage service to facilitate the decarbonisation of industrial customers in Asia.

Given the commitments of countries like South Korea and Japan to achieving net-zero emissions by 2050, the development of a carbon capture and storage (CCS) value chain for challenging industrial emissions in Asia needs a specific regulatory framework and substantial investments, TotalEnergies noted.

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