KUALA LUMPUR: Japanese petroleum and metals conglomerate Eneos Holdings Inc's unit, JX Nippon Oil and Gas Exploration Corp (JX), together with JGC Holdings Corp (JGC HD), have partnered with Petroliam Nasional Bhd (Petronas) to explore the carbon capture and storage (CCS) project.
Both parties today have signed a memorandum of understanding (MoU) with Petronas on a joint collaboration study, which aims to study the potential CCS development in Malaysia.
The collaboration study targets not only carbon dioxide (CO2) emitted from Malaysia's industries but also pursues the possibility of permanently storing CO2 from overseas such as in Japan.
Petronas, JX and JGC HD will combine their respective knowledge and experiences to construct the entire CCS value chain, from CO2 separation, capturing, transportation, injection, and storage.
JX said CCS and carbon capture, utilisation and storage (CCUS) would play an important role in realising carbon neutrality.
The company has an established and proven track record in several CCS/CCUS projects, such as a CO2 Enhanced Oil Recovery (CO2-EOR) pilot test in Vietnam and the Petra Nova CCUS Project utilising CO2 captured from a thermal power plant in Texas, United States.
"One of Eneos company's envisioned goals for 2040 is contributing to developing low carbon, recycling-oriented society.
"In May 2022, the Eneos Group announced the Eneos Group Plan for Carbon Neutrality.
"As part of our efforts to achieve this goal, JX continues to work toward promoting CCS/CCUS businesses," it added.