Energy transition company Technip Energies and Malaysia’s Petronas have signed an agreement that created a collaboration framework for the further development and commercialization of carbon capture technologies.
Technip Energies said that the technologies mentioned include Petronas’ Rotating Pack Bed assisted cryogenic CO2 recovery technology or CryoMin and membrane-based CO2 recovery technology – PN2.
The two companies claimed that they were committed to accelerating the transition to a net-zero carbon future through increasing innovation and fostering active technology collaborations.
Both companies will work together on furthering the development of carbon capture technologies as well as the associated services and equipment to help operators reduce their assets’ carbon emissions sustainably.
“Collaboration is vital across the industry to accelerate the energy transition. We are proud to have signed this strategic partnership with Petronas, a long-standing client and partner which has in the past entrusted Technip Energies to design and deliver some of its most iconic assets,” Arnaud Pieton, CEO of Technip Energies, said.
“This new partnership extends our historical collaboration with Petronas into technology development within energy transition, calling on Technip Energies’ extensive capabilities on decarbonization technologies.
“It will generate unique synergies by combining Technip Energies’ and Petronas’ respective experiences in the development of essential technologies for the capture and management of CO2. I trust that the technologies that we will co-develop and commercialize will serve the decarbonization efforts of Petronas and other clients extensively,” Pieton added.
“Petronas leverages on innovations in a holistic approach towards its Net-Zero Carbon Emissions 2050 aspiration and has identified carbon capture, utilization and storage (CCUS) technologies among core enablers towards achieving the ambition,” Bacho Pilong, SVP of Project Delivery and Technology at Petronas, added.
”We are excited about the many possibilities to be created under this collaboration between two companies equally passionate about advancing technologies that will mutually progress our sustainability agenda. We also hope our synergy and the ensuing successes will spur similar partnerships that meet the triple bottom lines of profit, people, and the planet for a better tomorrow,” he concluded.
Earlier this month, Petronas signed a Memorandum of Understanding with Exxon to jointly explore potential carbon capture and storage technologies projects in Malaysia to help the country fulfill its net-zero targets.
The companies will assess the viability of carbon capture projects in select locations offshore Peninsular Malaysia and share subsurface technical and infrastructure data for pipelines, facilities, and wells as they evaluate potential projects for the storage, transport, and reutilization of captured CO2.