Petronas to collaborate with six South Korean companies on CO2 transport

Petronas has joined six South Korean companies to carry out conceptual and feasibility studies toward establishing a full value chain related to carbon dioxide (CO2) capture, transport and storage.

The company has penned a memorandum of understanding with construction firm Samsung Engineering, shipbuilder Samsung Heavy Industries (SHI), energy players SK Earthon, SK Energy, GS Energy Corporation and petrochemical firm Lotte Chemical.

Petronas is also working with Japan’s Mitsui OSK Lines (MOL) to study liquefied CO2 transportation, together with MOL’s partially owned CO2 specialist, Larvik Shipping.

The national oil company added that collaboration is part of its efforts 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.

Petronas said the deal also involves the evaluation of potential CO2 storage sites in Malaysia and exploration of other areas across the carbon capture and storage (CCS) value chain, including the strengthening of cross-border CO2 transportation.