PETRONAS, TotalEnergies, Japan’s Mitsui ink deal for carbon storage areas in southern hub
By DayakDaily Team TOKYO, Oct 23: PETRONAS’ wholly owned subsidiary, PETRONAS CCS Ventures Sdn. Bhd. (PCCSV), TotalEnergies EP CCS Malaysia (TotalEnergies), and Japan’s Mitsui & Co., Ltd. (Mitsui) have signed a Joint Venture Agreement (JVA) to develop the carbon storage areas offshore Peninsular Malaysia, a key component of Malaysia’s Southern Carbon Capture and Storage (CCS) Hub. According to a media release, the JVA builds on previous agreements the partners signed under the Carbon Capture…
PETRONAS, TotalEnergies, and Mitsui signed a JVA to develop carbon storage areas offshore Peninsular Malaysia as part of the Southern CCS Hub.
The JVA aims to develop carbon storage areas offshore Peninsular Malaysia.
The project targets a depleted gas field with 5 million tonnes per annum injection capacity by 2031.
The Southern CCS Hub supports decarbonisation efforts in the Asia Pacific region.
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TOKYO, Oct 23: PETRONAS’ wholly owned subsidiary, PETRONAS CCS Ventures Sdn. Bhd. (PCCSV), TotalEnergies EP CCS Malaysia (TotalEnergies), and Japan’s Mitsui & Co., Ltd. (Mitsui) have signed a Joint Venture Agreement (JVA) to develop the carbon storage areas offshore Peninsular Malaysia, a key component of Malaysia’s Southern Carbon Capture and Storage (CCS) Hub.
According to a media release, the JVA builds on previous agreements the partners signed under the Carbon Capture and Storage Development Agreement in 2023, under which the parties conducted development studies and technical evaluations of potential storage areas offshore Peninsular Malaysia.
In 2025, the parties progressed to a Key Principles Agreement, laying the groundwork for front-end engineering and design (FEED) activities and the formation of the joint venture structure.
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