News

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.

Japan passed a law on May 17 to establish a permit system for business operators, facilitating the implementation of Carbon Capture and Storage technology, which captures carbon dioxide from industrial emissions and stores it deep underground.

Carbon Capture and Storage market is forecasted to increase by 104.5 million tons from 2023 to 2027. Additionally, the market is expected to grow at a CAGR of 22.91% during the forecast period.

Pertamina and BP are exploring a potential collaboration in the carbon capture, utilization, and storage project at the Tangguh natural gas field, which may involve producing blue ammonia.

Japan will hold talks with Malaysia on storing power plant and industrial emissions in the Southeast Asian nation, with an aim of the first shipment in 2028.

ExxonMobil and BP executives expressed optimism about the oil firm’s carbon capture projects in Indonesia, suggesting they provided a solution to the global need to balance emissions reduction and energy security.

UK announced an investment of £20 billion for the development of carbon capture, utilization, and storage projects in Scotland and the Humber.

In order to meet Indonesia's carbon capture regulations, Honeywell provides a full suite of Carbon Capture, Utilization and Storage solutions to support high carbon emission industries.

Indonesia's Pertamina signed four agreements to explore potential developments of carbon capture storage projects in the country. The largest economy in Southeast Asia is aiming to accelerate the realization of its renewable energy goals.

Exxon Mobil agreed to buy Denbury for $4.9 billion on July 13, to accelerate its energy transition business with an established CO2 storage operation.