KUALA LUMPUR, Feb 9 (Bernama) -- PETRONAS has signed a Memorandum of Understanding (MoU) with leading global shipping company Mitsui O.S.K. Lines, Ltd. (MOL) to jointly explore opportunities in liquefied carbon dioxide (CO₂) transportation for the carbon capture, utilisation and storage (CCUS) value chain in Asia Pacific and Oceania regions.

The MoU was signed in a virtual ceremony on 7 February by PETRONAS Executive Vice President and Chief Executive Officer of Upstream, Adif Zulkifli and MOL President and Chief Executive Officer Takeshi Hashimoto.

Adif said, “PETRONAS continuously explores opportunities to reduce carbon emissions in our operations. This collaboration is important as long haul liquefied CO₂ transportation plays an essential role in the CCUS value chain. We are confident that MOL’s strong track record, coupled with its recent acquisition of Larvik Shipping AS which has safely transported CO₂ for over 30 years, will position both PETRONAS and MOL as leaders in the region for long haul transportation of liquefied CO₂.”

PETRONAS is taking deliberate steps to build a resilient and sustainable portfolio aligned to its growth strategy, delivering effective solutions with a lower carbon footprint through commercial and operational excellence, renewable energy generation and technology innovations. PETRONAS supports the transition towards lower carbon energy sources by applying technology that lowers emissions across the value chain, which includes carbon capture, transport and storage.

MOL, together with Larvik Shipping AS, which is one of the few companies in the world qualified to operate liquefied CO₂ vessels for food-grade CO₂, will contribute its expertise in safe transportation of liquefied CO₂. Liquefied CO₂ transportation safely and efficiently connects CCUS sites over long distances where pipelines are not economically viable.

Issued by:

Media Communications Department
Group Strategic Communications
PETRONAS

Photos: https://drive.google.com/drive/folders/1RtKfAOCzfAQRgGLrE9IqPjfVnACNodUG?usp=sharing

Caption: “During the MoU signing, PETRONAS was represented by Executive Vice President and Chief Executive Officer of Upstream, Adif Zulkifli and Head of CCS Enterprise, Nora’in Md Salleh while Mitsui O.S.K Lines was represented by President, Chief Executive Officer, Takeshi Hashimoto”

SOURCE: PETRONAS

FOR MORE INFORMATION, PLEASE CONTACT: 
Name: Nursyazlin Shamsulbaha
Tel: +603-23924966 
Email: nursyazlin.shamsulb@petronas.com

--BERNAMA