PETRONAS CCS Ventures partners with DNV for carbon capture and storage certification in Malaysia

PETRONAS CCS Ventures Sdn Bhd, a wholly-owned subsidiary of PETRONAS, has entered into a strategic partnership with DNV, a global quality assurance and risk management company, by signing a Master Price Agreement for the certification of carbon dioxide (CO2) storage sites and associated facilities in Malaysia. This agreement, aimed at bolstering Carbon Capture and Storage (CCS) projects, builds on a Memorandum of Understanding signed between the two entities in 2022 and marks a significant step toward enhancing Malaysia’s standing as a leader in CCS technology in Southeast Asia.

Establishing New Standards in CCS Certification

The collaboration between PETRONAS CCS Ventures and DNV is poised to set new benchmarks in the CCS sector by ensuring that all CCS developments in Malaysia meet stringent international standards. Emry Hisham Yusoff, Chief Executive Officer of PETRONAS CCS Ventures, emphasized the importance of this partnership in driving regional energy transformations. “PETRONAS CCS Ventures is pleased to join forces with DNV and embark on another journey towards solidifying Malaysia’s position as a leading hub for CCS in Southeast Asia,” said Yusoff. He highlighted the company’s dedication to leveraging strategic resources and expertise to effect meaningful change in the region’s energy landscape.

PETRONAS CCS Ventures and DNV are collaborating to enhance CCS certifications in Malaysia, aiming for a low-carbon future.

A Commitment to Sustainability and Technological Advancement

Brice Le Gallo, Vice President and Regional Director APAC, Energy Systems at DNV, also commented on the milestone, stating, “This strategic partnership between DNV and PETRONAS CCS Ventures marks a defining moment in advancing CCS technology in Malaysia and the broader Asian region. It is a testament to our commitment to sustainability and our role in spearheading the transition towards a low-carbon future.” Together, the two companies aim to establish a new standard for industry collaboration and innovation in pursuit of Southeast Asia’s net zero by 2050 goal.

Progress and Future Prospects in CCS

PETRONAS is firmly committed to reaching net zero carbon emissions by 2050 and has been actively developing cleaner energy solutions, including CCS. The company has made significant progress in this area, with the Kasawari CCS project currently under construction, several other CCS hubs in development, and major international collaborations underway.

DNV, with over two decades of experience in the development of CCS facilities worldwide, is ideally positioned to assist PETRONAS in ensuring that the emerging Malaysian CCS industry adheres to the highest international standards and best practices. DNV’s extensive expertise covers the entire CCS value chain, from project inception through operational management.

This partnership reflects a strategic alignment with global sustainability goals, highlighting the critical role of international standards and certifications in the successful deployment of CCS technologies. As nations like Malaysia aim for a low-carbon future, collaborations such as this between PETRONAS and DNV are crucial for ensuring the scalability, safety, and effectiveness of CCS projects.