Shell Eastern Petroleum, an unit of global oil and gas major Shell Plc (SHEL.L) had signed a memorandum of understanding (MoU) with Brunei Shell Petroleum (BSP) to explore carbon transport and storage options in Brunei and Singapore. As per the agreement, the companies will evaluate the technical and commercial feasibility of carbon storage options in Brunei Darussalam and carbon transport solutions from Singapore. Shell, which has a target to become a net-zero emissions energy business by 2050, said the initiative could potentially form part of a carbon capture and storage (CCS) hub in Southeast Asia.

Source: Reuters