KUALA LUMPUR, November 9 – PETRONAS, the Malaysian energy company, has entered into a Memorandum of Cooperation (MoC) with Japan’s Ministry of Economy, Trade and Industry (METI) and the Japan Organization for Metals and Energy Security (JOGMEC) to enhance cooperation on cross-border CO₂ transportation for Carbon Capture and Storage (CCS) projects. CCS technology plays a vital role in significantly reducing CO₂ emissions into the atmosphere.
However, given the lack of suitable storage sites in all regions, cross-border CO₂ transportation is essential to facilitate regional collaborations and achieve meaningful emissions reductions. The MoC aims to bolster cooperation in cross-boundary CCS projects between Japan and Malaysia. It takes into account their shared interest in establishing a CCS value chain and business model to support future carbon neutrality efforts, thereby promoting economic, industrial, and social development.
Additionally, the MoC intends to facilitate the exchange of critical information on CCS between PETRONAS and relevant Japanese industries. This exchange encompasses discussions on country-specific laws and regulations related to CCS. The parties involved may also explore opportunities for CCS-related collaboration with key partners, including Japanese companies supported by JOGMEC. The MoC was signed by Emry Hisham Yusoff, Head of Carbon Management at PETRONAS; Yoshida Nobuhiro, Parliamentary Vice-Minister of METI; and Dr. Yamamoto Koji, Vice President of the Energy Business Unit at JOGMEC.
Emry commented on the collaboration, stating, “Through this collaboration, partners would be able to establish a deeper understanding of crucial aspects related to the viability of the CCS value chain as a solution for reducing greenhouse gas emissions within their respective business environments.” PETRONAS is actively promoting CCS as a key solution to address emissions from its operations and local industries. Recognizing the importance of regional cooperation in addressing climate change, PETRONAS continues to forge strategic partnerships as part of its commitment to building a resilient and sustainable portfolio while advancing its NZCE 2050 pathway.
