MOSCOW (MRC) -- Malaysian state-owned energy giant Petroliam Nasional Berhad, or Petronas, has signed a MoU with Japan Petroleum Exploration Co., Limited (JAPEX) to collaborate on CCS opportunities, including suitable CO2 storage solutions in Malaysia, according to Hydrocarbonprocessing.
Under the MoU, Petronas and JAPEX will perform technical maturation activities to unlock potential CCS solutions, which includes evaluating optimal capture, storage and transportation methods, as well as estimation of emissions, capture volumes and monitoring methods of CO2 stored underground.
This joint study will cover consideration of methods to capture and transport CO2 from the Petronas LNG complex in Bintulu and from outside Malaysia as a future possibility.
As MRC reported earlier, in January 2021, Petronas said it aims to become a net zero emitter of greenhouse gases by 2050 and also plans to increase its investments in renewable energy.
We remind that in June 2019, Petronas and Saudi Aramco started operations at their new 1.2-million-tonnes-per-year naphtha cracker. The cracker is part of the USD2.7 billion joint-venture oil refinery and petrochemical project known as RAPID - or Refinery and Petrochemical Integrated Development - located in Pengerang in the state of Johor, at the southern tip of peninsular Malaysia.
Ethylene and propylene are the main feedstocks for the production of polyethylene (PE) and polypropylene (PP), respectively.
According to MRC's ScanPlast report, Russia's estimated PE consumption totalled 2,265,290 tonnes in the first eleven months of 2021, up by 14% year on year. Shipments of all grades of ethylene polymers increased. At the same time, PP shipments to the Russian market were 1,363,850 tonnes in January-November, 2021, up by 25% year on year. Supply of homopolymer PP and block-copolymers of propylene (PP block copolymers) increased, whereas supply of injection moulding PP random copolymers decreased significantly.
Petronas, short for Petroliam Nasional Berhad, is a Malaysian oil and gas company wholly owned by the Government of Malaysia. The Group is engaged in a wide spectrum of petroleum activities, including upstream exploration and production of oil and gas to downstream oil refining; marketing and distribution of petroleum products; trading; gas processing and liquefaction; gas transmission pipeline network operations; marketing of liquefied natural gas; petrochemical manufacturing and marketing; shipping; automotive engineering; and property investment.