PETRONAS, MOL and MISC to jointly develop LCO2 carriers for CCS projects

KUALA LUMPUR: PETRONAS CCS Ventures Sdn Bhd (PETRONAS CCS Ventures), a wholly-owned subsidiary of PETRONAS has signed a term sheet with Mitsui O.S.K Lines, Ltd. (MOL) and MISC Bhd.

In a statement, PETRONAS CCS Ventures said the term sheet is for the potential incorporation of a joint venture entity to invest in developing and monetising liquefied carbon dioxide (LCO2) carriers for carbon capture and storage (CCS) projects in Malaysia.