Malaysia’s state-run oil and gas company Petronas signed a memorandum of understanding on Aug. 3 with six Korean companies to launch a carbon capture and storage (CCS) project called Shepherd CCS Project, with an aim to capture carbon in South Korea and store it in Malaysia.
The six companies are Samsung Heavy Industries, Samsung Engineering, Lotte Chemical, GS Energy, SK Energy and SK Earthon. They will jointly develop the project that is located in Malaysian state of Sarawak. Feasibility studies for the cross-border project will be conducted soon.
