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Petronas and DNV in carbon capture, utilisation and storage drive

Petronas and DNV in carbon capture, utilisation and storage drive

 

Malaysia’s national energy company Petronas and independent risk management and assurance company DNV are teaming up on carbon capture, utilisation and storage (CCUS) initiatives.

The duo will address the technical, regulatory and business challenges of CCUS deployment, particularly in the Southeast Asian region, by leveraging each organisation’s technical skills, resources and research capabilities.

Under a memorandum of understanding signed in July, DNV and Petronas will collaborate on technical issues including safety, environment, risk, technology and the qualification of storage sites; legislation and regulation; capability development and commercial areas.

DNV, which has more than two decades experience in CCUS, has been actively engaged in research on key factors including geological storage, pipeline reuse and the shipment of CO2. A suite of recommended practices has been published by DNV covering the full CCUS value chain.

"DNV’s expertise and track record in supporting CCUS projects globally, combined with Petronas’ technical capabilities and strategic resources, will spur the advancement of CCUS not only in Malaysia but across the region," said Jamie Burrows, head of business development - CCUS, energy systems at DNV.

"CCUS will play a crucial role in Asia’s energy transition. Through this initiative we aim to address a number of areas fundamental to the establishment of regional hubs and thereby enable greater access to CCUS infrastructure," he added.

Brice Le Gallo, vice president and regional director APAC, energy systems at DNV, commented that accelerating a clean energy transition has “never been more vital”.

DNV’s Energy Transition Outlook 2021 sees fossil fuels remaining a primary energy source for Southeast Asia, accounting for 75% of total demand in 2030 and 43% in 2050, despite strong growth in renewables.

“Under this scenario, carbon capture and removal will be critical – because the emissions generated by fossil fuel use in hard to abate industrial applications will need to be addressed. In order to transition to clean energy, we need more tools beyond renewable energy and this tool kit must include CCUS,” said Brice Le Gallo.

“Implementing CCUS at scale will require navigating technology, business, regulations and policy which is why we believe this collaboration will be important for deployment in the region.”

Read the latest issue of the OGV Energy magazine HERE 

Published: 19-07-2022

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