MISC signs JVA with PETRONAS and Mitsui to procure and transport LCO2 carriers

PETALING JAYA: MISC Bhd has entered into a joint venture agreement (JVA) with PETRONAS CCS Ventures Sdn Bhd and Mitsui O.S.K. Lines Ltd to establish a joint venture company for the purpose of procuring and owning liquified carbon dioxide (LCO2) carriers to transport LCO2 to CO2 storage sites in Malaysia.

In a filing with Bursa Malaysia, MISC said the new joint venture is to enable the parties to collaborate and form a synergy based on their current capabilities for the purpose of exploring potential business opportunities, to jointly invest in developing LCO2 carriers for transportation of LCO2 to carbon dioxide storage sites in Malaysia.