ExxonMobil and PETRONAS have signed a Memorandum of Understanding to collaborate and jointly explore potential carbon capture and storage technologies projects in Malaysia. The companies will assess the viability of carbon capture projects in select locations offshore Peninsular Malaysia and share subsurface technical and infrastructure data for pipelines, facilities and wells as they evaluate potential projects for the storage, transport and reutilization of captured CO2.Low Carbon Solutions is initially focusing its carbon capture and storage efforts on capturing CO2 from industrial activity that would otherwise be released into the atmosphere, and injecting it into deep underground geologic formations for safe, secure and permanent storage. It is also pursuing strategic investments in biofuels and hydrogen to bring those lower-emissions energy technologies to scale for hard-to-decarbonize sectors of the economy.The MoU strengthens a decades-long strategic partnership between ExxonMobil and PETRONAS and has the objective of helping Malaysia reduce emissions and achieve its net-zero ambitions.The MoU with PETRONAS is the ninth carbon capture and storage opportunity that ExxonMobil has announced since establishing its Low Carbon Solutions business in March 2021 to commercialize low-emission technologies. The others are in Houston, Texas; LaBarge, Wyoming; Edmonton, Canada; St Fergus, UK; Fife, UK; Normandy, France; Indonesia; and Russia. These are in addition to previously announced projects in Qatar; Antwerp, Belgium; Rotterdam, Netherlands; and Australia.
ExxonMobil and PETRONAS have signed a Memorandum of Understanding to collaborate and jointly explore potential carbon capture and storage technologies projects in Malaysia. The companies will assess the viability of carbon capture projects in select locations offshore Peninsular Malaysia and share subsurface technical and infrastructure data for pipelines, facilities and wells as they evaluate potential projects for the storage, transport and reutilization of captured CO2.Low Carbon Solutions is initially focusing its carbon capture and storage efforts on capturing CO2 from industrial activity that would otherwise be released into the atmosphere, and injecting it into deep underground geologic formations for safe, secure and permanent storage. It is also pursuing strategic investments in biofuels and hydrogen to bring those lower-emissions energy technologies to scale for hard-to-decarbonize sectors of the economy.The MoU strengthens a decades-long strategic partnership between ExxonMobil and PETRONAS and has the objective of helping Malaysia reduce emissions and achieve its net-zero ambitions.The MoU with PETRONAS is the ninth carbon capture and storage opportunity that ExxonMobil has announced since establishing its Low Carbon Solutions business in March 2021 to commercialize low-emission technologies. The others are in Houston, Texas; LaBarge, Wyoming; Edmonton, Canada; St Fergus, UK; Fife, UK; Normandy, France; Indonesia; and Russia. These are in addition to previously announced projects in Qatar; Antwerp, Belgium; Rotterdam, Netherlands; and Australia.
