DNV and PETRONAS’ wholly-owned subsidiary, PETRONAS CCS Ventures Sdn Bhd (PETRONAS CCS Ventures), has recently signed a Master Price Agreement for the certification of carbon dioxide (CO2) storage sites and associated facilities for carbon capture and storage (CCS) projects in Malaysia.
This agreement builds on a Memorandum of Understanding signed between DNV and PETRONAS in 2022, during which strategic working groups delved into topics relevant to CCS.
PETRONAS is committed to achieving net zero carbon emissions by 2050 and has established growth targets for cleaner energy solutions including CCS. Substantial progress has already been made, with the Kasawari CCS project currently in construction, several CCS hubs in development, and major international agreements having been announced.
DNV is ideally positioned to help PETRONAS ensure that the emerging Malaysian CCS industry adheres to international standards and best practices. DNV has been involved in the development of CCS facilities globally for more than 20 years, delivering specialist services spanning the entire CCS value chain.
