TotalEnergies, Petronas and Mitsui to evaluate CO2 storage sites in Malay Basin

Offshore staff

PARIS — TotalEnergies has signed an agreement with Petronas and Mitsui to develop a carbon storage project in Southeast Asia.

The partners will evaluate several CO₂ storage sites in the Malay Basin, including both saline aquifers and depleted offshore fields. The Malay Basin is located offshore in the South China Sea.

This partnership aims to develop a CO₂ merchant storage service to decarbonize industrial customers in Asia.

In Asia, where countries such as South Korea and Japan have pledged for Net Zero Commitment in 2050, the development of a CCS value chain for hard-to-abate industrial emissions will require a specific regulatory framework and significant investment. Through this agreement, the partnership will study several potential storage sites, determine the best technical means to deliver CO₂ to Malaysia from industrial clusters in the region and develop the most appropriate business framework for commercialization of a carbon storage service in Malaysia.

06.26.2023