State-owned energy firm Petronas has signed an initial agreement with six South Korean companies to develop a cross-border carbon capture and storage (CCS) project. The project will capture carbon dioxide generated from industrial complexes and store it in a hub in South Korea, before transporting it to Malaysia for final storage. Malaysia is the best location given its storage capacity and geographical accessibility to South Korea, said oil company SK Energy. The companies plan to expand the project in the future by inviting other carbon-emitting companies in South Korea.

Source: Argus