Japanese trading house Mitsui & Co. has signed a memorandum of understanding (MoU) with Petronas to study the possibility of storing industrial carbon dioxide emissions off the coast of the Malay Peninsula. According to recent estimations, Japan needs to store 120 – 240 million tons of carbon dioxide (CO2) a year by 2050 to reach carbon neutrality. Thus, with waters easily accessible by ship from East Asia, coupled with extensive existing seafloor data and hydrocarbon facilities, the project could help Japan reach its climate goals.

Source: Nikkei Asian Review