An offshore rig in Malaysia. (Photo: iStock)
Malaysia is among the hubs in the Asia-Pacific region rapidly emerging as key players in the carbon capture and storage (CCS) sector, according to Rystad Energy.
In a statement on May 30, the Oslo-based consulting firm noted that Asian countries are intensifying their decarbonization efforts, despite challenges such as unsuitable geological conditions for carbon capture, utilization, and storage (CCUS) in several countries.
Rystad Energy's research highlights Australia, Malaysia, and Indonesia as emerging hubs in the APAC region, driven by the CO2 storage potential in their depleted oil and gas reservoirs and stricter environmental regulations, despite recent policy improvements.
