As part of the MoU, both companies will jointly study the development of the CCS value chain focusing on the 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.
The aggregation of CO2 emissions from various emitters in the Southeast Asia region is also part of the feasibility study. Both companies have the intention to invest in the development of CCS value chain solutions, The collaboration is aligned with both companies' ambition to support the transition to a low carbon future.
Chris Robblee - President Vopak Asia & Middle East said: "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."