TotalEnergies (TTE), Petronas, and Mitsui signed a joint venture agreement to develop offshore carbon dioxide storage areas in Peninsular Malaysia as part of the country's Southern Carbon Capture and Storage Hub, Petronas said Friday.
The company said the first phase will focus on a depleted offshore gas field with an expected carbon dioxide injection capacity of up to 5 million tonnes a year.
The partners are targeting the start of injection as early as 2031, the company added.
The joint venture will advance the project's development, commercialization and operation, Petronas said.
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