Independent tank storage company Vopak will work alongside energy giant Petronas to study the development of a carbon capture and storage (CCS) value chain focusing on the CO2 emitted by industries in Singapore.
Having signed a Memorandum of Understanding (MoU), the companies intend to focus on CO2 transport from a Vopak terminal for potential injection into the regional storage hubs developed by Petronas.
These hubs enable industries wanting to decarbonise their processes a way to store waste CO2 when underground geologic reservoirs are not abundant.
The deal comes after a slew of CO2 transport and storage deals signed between Petronas and a range of energy companies including ~Mitsui, Shell and JAPEX.
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