DNV, Petronas sign MOU for carbon capture utilisation and storage

DNV, Petronas sign MOU for carbon capture utilisation and storage

Energy and solutions providers DNV and Petroleum Nasional Bhd. (Petronas) have signed a Memorandum of Understanding in support of carbon capture utilisation and storage (CCUS) deployment. The MOU addresses technical, regulatory, business, and commercial challenges of CCUS deployment, with the companies intending to partner up on related initiatives and activities based on expertise.

The MOU was signed on July 8, 2022 by VP and Regional Director Asia Pacific, Energy Systems at DNV, Brice Le Gallo and Petronas Senior General Manager of Carbon Management, Emry Hisham Yusoff.

DNV has gained worldwide trust in providing guidance on key technical, market, and safety risks for CCUS deployment, owing to their 20-plus years’ worth of experience. The company is at the forefront of CCUS research which examines key areas including geological storage, pipeline re-use, and the shipment of carbon dioxide (CO2). DNV has published a suite of recommended practices covering the full CCUS value chain.

“DNV’s expertise and track record in supporting CCUS projects globally, combined with Petronas’ technical capabilities and strategic resources, will spur the advancement of CCUS not only in Malaysia but across the region,” said Jamie Burrows, Head of Business Development – CCUS, Energy Systems at DNV.

“CCUS will play a crucial role in Asia’s energy transition. Through this initiative we aim to address a number of areas fundamental to the establishment of regional hubs and thereby enable greater access to CCUS infrastructure,” he added.

Meanwhile, Brice Le Gallo, VP and Regional Director APAC, Energy Systems at DNV, “Accelerating a clean energy transition has never been more vital. Fossil energy is the primary-energy mix of Southeast Asia, according to DNV’s Energy Transition Outlook 2021, and will remain dominant at 75% in 2030 and 43% in 2050, despite strong growth in renewables.

“Under this scenario, carbon capture and removal will be critical – because the emissions generated by fossil fuel use in hard to abate industrial applications will need to be addressed. In order to transition to clean energy, we need more tools beyond renewable energy and this tool kit must include CCUS. Implementing CCUS at scale will require navigating technology, business, regulations and policy which is why we believe this collaboration will be important for deployment in the region.”

CCUS enables the capture of CO2 emissions from industrial activities – it plays a crucial part in propagating Southeast Asia’s transition to net zero emissions.