MOL and Petronas study liquefied CO2 transportation

The companies will focus on the Asia Pacific and Oceania region. MOL’s role includes optimising specifications for liquefied CO2 tankers. Larvik Shipping, which is partly owned by MOL and has managed liquefied CO2 tankers over 30 years, will join the study.

In January 2022, Petronas signed an MoU with Japan Petroleum Exploration to collaborate on CCS opportunities, including suitable CO2 storage solutions in Malaysia. The companies will evaluate optimal capture, storage and transportation methods and estimate emissions, capture volumes and monitoring methods of CO2 stored underground. The joint study will cover consideration of methods to capture and transport CO2 from the Petronas LNG Complex in Bintulu and from outside Malaysia as a future possibility.

Petronas also signed a collaboration agreement with Sarawak Shell to explore opportunities and project collaborations in CCS to help provide CO2 storage solutions in Malaysia and the region. The companies aim to support the decarbonisation ambitions of both parties within selected locations offshore Sarawak.

In November 2021, Petronas signed an MoU with ExxonMobil Exploration and Production Malaysia to explore opportunities in CCS technologies to support the decarbonisation of Malaysia’s upstream industry as well as to provide CO2 storage solutions for the region. In December, an MoU was signed with POSCO International Corporation and POSCO Engineering & Construction to identify suitable technology and potential for CCS.

Last year, MOL agreed to carry out a feasibility study for a liquefied CO2 and hydrogen project in Klaipeda, Lithuania, in partnership with Klaipedos nafta and Larvik Shipping.