Captain Rajalingam Subramaniam
PETALING JAYA: Maritime solutions and services provider MISC Bhd
inked separate memorandums of understanding (MoUs) with Mitsui & Co. Ltd, Samsung Heavy Industries (SHI) and ANDRITZ AG to tap opportunities for carbon capture and storage (CCS) solutions in the maritime value chain, including identifying storage hubs, development of floating solutions as well as carbon capture parts and equipment.
MISC president and group chief executive Capt Rajalingam Subramaniam said carbon capture, storage technologies and other related infrastructure are pivotal measures to support and accelerate the transition towards a low-carbon future.
“The MoUs reflect MISC’s ambition to define our role in a future that is being shaped by the energy transition. Strategic collaborations with global stakeholders have always been our approach, and we will continue forging partnerships in the development and commercialisation of the carbon capture and storage value chain,” Rajalingam said in a statement.
In its MoU with Mitsui, the parties will join forces on business opportunities across the CCS value chain, including the identification of potential hubs, assessing the commercial and technical viability of CCS solutions.
At the same time, the partnership with SHI covers the joint development of the engineering, procurement and construction (EPC) of the floating carbon dioxide (CO2) solutions to facilitate and support the optimisation of offshore CCS projects by combining the expertise, experience, and resources of both SHI and MISC.
The cooperation with ANDRITZ covers the application and optimisation of carbon capture technologies and the execution of engineering, procurement, construction, installation, and commissioning (EPCIC) of CCS systems for marine and land-based applications.
MISC added its foray into the CCS value chain puts the group in a firm position to deliver the long-term strategy of MISC 2050 which focuses on identifying new business opportunities while driving sustainable value for its stakeholders.
Rajalingam added, “Our commitment towards decarbonisation is further reinforced through our firm partnership in The Castor Initiative, a global coalition which was formed to develop ammonia as a viable fuel for the
maritime industry. Discussions are also in progress to expand our partnership to ensure that we operate in a sustainable manner and are prepared for the transition.”
