Japan-based JGC Holdings Corporation, Kawasaki Kisen Kaisha (K Line), Japan Petroleum Exploration Corporation (JAPEX), and Petronas CCS Ventures Sdn Bhd (PCCSV) have signed a key principles agreement (KPA) to develop a carbon capture and storage (CCS) project in Malaysia by the end of 2028.
As per the agreement, the companies plan to commence the front-end engineering design and inject and store CO2 from Japan and Malaysia in 2024. Initial works will include the detailed engineering of the specifications, estimated costs, and business scheme, including establishing an infrastructure network comprising CO2 pipelines from onshore gathering sites, receiving facilities for shipping liquefied CO2, and offshore injection facilities.
The project aims to inject a minimum of 2 million tons of CO2 per year in the beginning, from Malaysia and Japan. By 2030, capacity will be increased to 5 million tons annually, with plans to exceed 10 million tons per year by the early 2030s.
