On August 20, PETRONAS, ADNOC, and Storegga signed the Joint Research and Growth Settlement (JSDA) to evaluate the CO2 storage potential of saline aquifers and develop carbon seize and storage (CCS) amenities within the Penyu basin of Malaysia.
Unlocking the PETRONAS, ADNOC, and Storegga CCS Undertaking
The initiative goals to realize a CCS capability of not less than 5 million tons yearly by 2030. The agreement outlines the next plans:
- Conduct CO2 transport and logistics examine, together with geophysical and geomechanical modeling, reservoir simulation, and containment analysis.
- The companions will discover the scope of CCS utilizing superior applied sciences like AI to optimize storage capability.
Nora’in Md Salleh, PETRONAS CCS Options Sdn. Bhd. (PCCSS)’s Chief Govt Officer mentioned,
“This agreement with ADNOC and Storegga will potentially allow us to build our capability to develop and de-risk saline aquifers as carbon dioxide storage sites by leveraging on our partners’ expertise and experience in other regions. This strategic partnership aligns with PETRONAS’ overarching goal of establishing Malaysia as a regional CCS hub to serve Asia Pacific where it may build up the storage capacity through saline aquifers. This also demonstrates our earnestness in establishing the right pace to deliver CCS hubs here while also contributing to the national climate target.”
Bolstering Ties for a Low-Carbon Future
The Penyu basin is positioned offshore Peninsular of Malaysia. The nation’s wealthy geological sources, notably its deep saline aquifer reservoirs, present a wonderful alternative for large-scale, everlasting CO2 storage options. Consequently, this settlement is about to spice up CCS amenities within the area, serving to to create a hub that may assist each native and worldwide efforts to cut back emissions.
Nora’in Md Salleh additional emphasised Malaysia’s curiosity in enhancing financial partnerships with the UAE. The collaboration will deal with varied sectors, together with renewable power, innovation, and infrastructure. She additional famous that the JSDA aligns with the Malaysia-UAE Joint Committee for Cooperation (JCC) framework, thereby constructing a powerful relationship between PETRONAS and ADNOC.
Milestones of the MOU Between Storegga and PETRONAS
Storegga Limited is a UK-based firm, targeted on growing decarbonization tasks like CCS, CCUs, DACs, and hydrogen tasks each within the UK and internationally. As a personal firm, Storegga is backed by buyers similar to GIC, Mitsui & Co., Ltd., M&G Investments, Macquarie Group, and Snam. Notably, Storegga is the lead developer of the Acorn Carbon Seize and Storage and Hydrogen challenge in Aberdeen, Scotland.
Shifting on, The MOU between Storegga and PETRONAS outlines a two-phase collaboration:
Section 1: The businesses will collectively develop a business technique for CCS. They purpose to determine key enablers and drivers for launching CCS hub and cluster tasks in Malaysia or the area, with potential worldwide enlargement. This section additionally contains:
- Sharing data on the worldwide CCS panorama
- Evaluating CCS economics and enterprise fashions
- Creating built-in options for emitters
Section 2: Collectively they may discover partnerships on CCS and associated tasks each in Malaysia and internationally. This section may contain growing tasks related to CCS, similar to Direct Air Seize (DAC).
Dr Nick Cooper, CEO at Storegga, mentioned:
“CCS is a vital tool. A reverse carbon cycle at scale is urgently needed to reduce and remove CO₂ from the atmosphere. We are looking forward to working with PETRONAS in Malaysia and beyond to catalyze CCS hubs and clusters. These hubs will accelerate the development of important carbon reversal technologies such as direct air capture. We have one atmosphere – it is vital that countries around the world work together to reduce and remove CO₂. We are excited that this relationship also expands Storegga’s global presence and utilizes our capabilities to support Asia’s progress towards decarbonization.”
Thus, Storegga’s involvement is essential on account of its pioneering position in advancing CCS globally.
PETRONAS Leads the Approach for Malaysia’s Web Zero with CCS Innovation
PETRONAS, a key participant in Malaysia’s Nationwide Vitality Transition Roadmap (NETR), has recognized CCS as important to reaching the nation’s sustainability targets. The Malaysian Authorities plans to introduce a standalone CCUS invoice by year-end to assist these efforts.
Aiming for net zero carbon emissions by 2050, PETRONAS is capping Malaysia’s operational emissions at 49.5 mtCO2e by 2024 and decreasing Groupwide emissions by 25% by 2030. Guided by its Vitality Transition Technique, PETRONAS balances present power wants with local weather targets, investing in new applied sciences and sustainable practices to drive the transition to a low-carbon future.
Supply: Petronas
Emry Hisham Yusoff, Head of Carbon Administration at PETRONAS, shared his ideas on the MOU, stating that the partnership will discover the business facets and surrounding elements wanted to develop the CCS worth chain in Malaysia and the area. This transfer will convey PETRONAS nearer to establishing Malaysia as a number one regional hub for CCS options.
He emphasised that this partnership helps PETRONAS’ objective of constructing a sustainable portfolio and advancing the shift to lower-carbon power.
ADNOC’s World-Class CCS Expertise Powers the Partnership
ADNOC is ramping up its decarbonization efforts by doubling its CCS capability to 10 million tons yearly by 2030. Moreover, it goals to realize internet zero in scope 1 and a couple of emissions by 2045. Final yr in September, ADNOC permitted the Habshan CCS challenge, one of many largest within the Center East and North Africa, which is able to retailer 1.4 million tonnes of CO2 annually in deep underground formations.
Following this, ADNOC greenlit the Hail and Ghasha challenge, concentrating on internet zero CO2 emissions with a capability to seize 1.5 million tons of CO2 yearly. Over 60% of the funding on this challenge will enhance the UAE’s economic system via ADNOC’s In-Nation Worth program.
Moreover, ADNOC partnered with Carbon Clear, a UK-based firm, to deploy the world’s first modular CycloneCC unit in Abu Dhabi, designed to avoid wasting time, capital, and power in comparison with conventional carbon capture strategies.
On this context, Hanan Balalaa, ADNOC Senior Vice President for New Energies, mentioned
“Carbon capture is an important tool to responsibly reduce carbon emissions and ADNOC will continue to develop this technology as we work towards our Net Zero by 2045 goal. We are committed to working with trusted global partners like PETRONAS and Storegga to develop and utilize global carbon management hubs, enabling our customers to reduce their emissions and supporting their decarbonization goals.”
supply: ADNOC
The challenge, set to start by the tip of the yr, holds nice promise for Malaysia. It marks a major step ahead within the nation’s mission to grow to be a frontrunner in CCS and different decarbonization efforts.
