DNV and Petroliam Nasional Berhad (Petronas), have signed a Memorandum of Understanding (MoU) to address the technical, regulatory and business challenges of carbon capture utilisation and storage (CCUS) deployment.

 The independent risk management and assurance company and the global energy and solutions firm, will join forces to work on initiatives and activities related to CCUS deployment by leveraging each organisation’s technical skills, resources and research capabilities.

The MoU provides for the collaboration to cover; technical matters including safety, environment, risk, technology and the qualification of storage sites, legislation and regulation, capability development and commercial areas

Jamie Burrows, Head of Business Development - CCUS, Energy Systems at DNV, said, “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.”

The MoU was signed by Petrons Senior General Manager of Carbon Management, Emry Hisham Yusoff and Vice President & Regional Director Asia Pacific, Energy Systems at DNV, Brice Le Gallo.

Emry Hisham Yusoff (Left) and Brice Le Gallo (Right) complete the MoU signing between DNV and Petronas

Source: DNV

Le Gallo commented, “Accelerating a clean energy transition has never been more vital.”

“Fossil energy is the primary-energy mix of Southeast Asia, according to DNV’s Energy Transition Outlook 2021, and will remain dominant at 75% 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.”

“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.”