Dutch firm Vopak, an independent tank storage company, and Malaysia’s Petroliam Nasional Bhd have teamed up to explore opportunities in developing value chain for carbon capture and storage (CCS) in Southeast Asia.
The companies signed a memorandum of understanding (MoU) on the partnership.
As part of the MoU, Vopak and Petronas will jointly study the development of the CCS value chain focusing on the carbon dioxide (CO2)) emitted by industries in Singapore.
This includes CO2 transport from a Vopak terminal for potential injection into the regional storage hubs developed by Petronas.
Vopak said the aggregation of CO2 emissions from various emitters in the Southeast Asia region is also part of the feasibility study.
“We are excited about this project with our long-term partner Petronas to jointly collaborate. This is well aligned with our commitment to support the energy transition through development of CO2-infrastructure for sustainable energy solutions and the decarbonisation of the industry,” said Vopak Asia & Middle East president Chris Robblee.
Vopak said the collaboration was aligned with both companies’ ambition to support the transition to a low carbon future.