Malaysian energy company Petronas is to explore opportunities for liquefied carbon dioxide (LCO2) transport alongside shipping giant Mitsui O.S.K Lines (MOL).

Agreed via a Memorandum of Understanding (MoU) signed on 7th February in a virtual ceremony, the companies will focus on LCO2 transport as part of the carbon capture, utilisation and storage (CCUS) value chain in Asia Pacific (APAC) and Oceania regions. 

Stating that the company is continuously exploring opportunities to reduce carbon emissions, Adif Zulkifli, Executive Vice President and CEO of Upstream, Petronas, added, “This collaboration is important as long haul LCO2 transportation plays an essential role in the CCUS value chain.” 

The signing ceremony; 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

The signing ceremony; 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

The agreement comes after a recent acquisition by Petronas of Larvik Shipping AS, one of the few companies in the world qualified to operation LCO2 vessels for food-grade CO2. 

Transportation of LCO2 via shipping vessel is considered advantageous when long-distance pipeline transportation is considered economically unviable.