Latest news with #EmryHishamYusoff
Borneo Post
3 days ago
- Business
- Borneo Post
PETRONAS, MISC and MOL to advance cross-border CO2 transportation
The three parties have recently completed the front-end engineering design (FEED) for a 62,000 cubic metre LCO2 carrier, which was awarded to SDARI. KUALA LUMPUR: PETRONAS CCS Ventures Sdn Bhd (PCCSV), MISC Berhad (MISC), and Mitsui OSK Lines, Ltd (MOL) together announced the incorporation of a strategic joint venture (JV) to lead the development and act as the ultimate owner of liquefied carbon dioxide (LCO₂) carriers. The JV, named Jules Nautica Sdn Bhd, is critical for transporting LCO₂ to designated storage sites as part of advancing carbon capture and storage (CCS) solutions. The three parties have recently completed the front-end engineering design (FEED) for a 62,000 cubic metre LCO2 carrier, which was awarded to Shanghai Merchant Ship Design and Research Institute (SDARI). In December 2024, this jointly developed design received the General Approval for Ship Application (GASA) certification from DNV, establishing it among the most developed Low Pressure Low Temperature LCO2 carrier designs in the industry. The JV aims to become a leading owner of LCO2 carriers, facilitating the safe and efficient transportation of LCO2 to designated CO₂ storage sites. Focused on supporting future CCS projects across the Asia Pacific region, the JV will also play a key role in completing the CCS value chain. Through strategic commercial agreements with CO2-emitting industries and storage companies, this partnership will provide a critical cross-border solution to meet growing environmental and regulatory needs. PCCSV's chief executive officer Emry Hisham Yusoff added, 'This joint venture marks a pivotal step forward in our collective mission of advancing decarbonisation efforts in the region. 'By leveraging the strengths of PCCSV, MISC, and MOL, we are progressing the development of LCO2 carriers and working towards more efficient shipping solutions. This collaboration highlights our focus on responsible innovation.' The joint venture recognises the critical role of cross-border collaboration in addressing our mutual goal in transitioning the region responsibly towards a low-carbon future. Representatives from PETRONAS, MOL, and MISC collectively form the Board of Directors of Jules Nautica. CCS liquified carbon dioxide Petronas
New Straits Times
3 days ago
- Business
- New Straits Times
Petronas-led venture to build fleet of liquefied CO2 carriers
KUALA LUMPUR: Petroliam Nasional Bhd (Petronas), via its unit Petronas CCS Ventures Sdn Bhd, has formed a joint venture (JV) with MISC Bhd and Mitsui OSK Lines Ltd to develop and own liquefied carbon dioxide (LCO2) carriers. The JV company, Jules Nautica Sdn Bhd, will support cross-border carbon capture and storage (CCS) initiatives by transporting LCO2 to designated storage sites across the Asia Pacific region. The partnership follows the completion of front-end engineering design for a 62,000-cubic-metre LCO2 carrier, awarded to Shanghai Merchant Ship Design and Research Institute. "The JV strengthens our position in the carbon management value chain and enables cross-border CCS infrastructure to take shape," said Petronas CCS Ventures chief executive officer Emry Hisham Yusoff. He added the design received General Approval for Ship Application certification from classification society DNV in December 2024. Jules Nautica aims to play a key role in completing the CCS value chain by facilitating safe and efficient LCO2 transport. The venture plans to engage with carbon-emitting industries and storage providers to offer cross-border CCS solutions in line with tightening environmental regulations. The initiative forms part of wider efforts by Petronas and its partners to position Malaysia as a regional hub for carbon management services.
New Straits Times
4 days ago
- Business
- New Straits Times
Petronas ramps up carbon storage efforts to anchor Malaysia's low-emissions future
KUALA LUMPUR: Petroliam Nasional Bhd (Petronas) is ramping up its carbon capture and storage (CCS) efforts, positioning the technology as both a key enabler of Malaysia's climate ambitions and a new economic frontier for attracting low-carbon investments and regional emitters. Carbon management senior general manager Emry Hisham Yusoff said Petronas is developing multiple offshore storage sites and related infrastructure to transform Malaysia into a leading CCS hub for Southeast Asia. Beyond addressing emissions from its own operations, he said Petronas sees CCS as a commercial solution to support decarbonisation across industries such as steel, cement and petrochemicals. He added that CCS is central to the national oil company's long-term sustainability strategy and is being developed as a new line of business. "CCS is not just about emissions reduction. It is a new service line and a commercial venture for us," he said at the Energy Asia 2025 media dialogue session here today. "With the right infrastructure, Malaysia can attract low-carbon product manufacturers, such as blue ammonia and blue hydrogen producers, to set up operations here," he added. Emry also highlighted that Malaysia's depleted oil and gas fields offer suitable geological formations for long-term CO2 storage, giving the country a strategic edge in regional decarbonisation. "Petronas reduced its emissions from 59 million tonnes in 2019 to 46 million tonnes in 2023, with a target to cut at least 25 per cent of equity emissions by 2030 across both operated and non-operated assets. "However, the pace of implementation depends on the readiness of industrial partners to align their timelines with Petronas' infrastructure rollouts," he said. Petronas estimates that its investments in CCS projects will range between RM4.5 billion and RM5 billion, underscoring its commitment to building the necessary ecosystem for permanent CO2 storage. Speaking at the same session, Petronas CCS carbon management division general manager Nor A'in Md Salleh said the company is focusing on the entire CCS value chain, including capture, transportation, onshore terminals and permanent offshore storage. "We have identified five to seven potential CCS sites at different stages of development. Two are located in Peninsular Malaysia, including one within the Malaysia-China Kuantan Industrial Park, and one is in Sarawak," she said. Among these, she added, the M1 site is the most advanced and will serve as the storage location for CO2 captured from the Kasawari gas field, a major natural gas development linked to Petronas' liquefied natural gas (LNG) portfolio. Petronas is also constructing a dedicated onshore liquefied CO2 terminal in Kuantan to facilitate transportation and storage operations. Partner selection for this terminal is ongoing. The CCS programme is closely tied to the company's LNG business, as Petronas is piloting CO2 capture directly from its LNG production facilities. Emry said the commercial viability of decarbonised LNG remains limited in the absence of carbon pricing or market premiums. "When we capture CO2 from our own LNG facilities, it becomes a cost to us – but there is no differentiated price for low-carbon LNG in the market. That makes it difficult to compete with others who are not pursuing decarbonisation," he said. Looking ahead, Petronas is optimistic that frameworks such as Singapore's transition finance taxonomy, which now classifies CCS as a green activity, will improve access to sustainable financing. "We have long said climate change knows no borders. Just because we store CO2 here does not mean Malaysia is the only beneficiary. We can enable emissions reduction across the region while securing our own energy future," said Emry. Petronas is working closely with global partners such as TotalEnergies, Mitsui & Co, and a Japanese consortium comprising JGC Holdings and K Line, which are engaging emitters from Japan to collaborate on CCS storage in Malaysia. This, Emry said, reflects strong cross-border interest and validates Malaysia's potential as a regional CCS destination. In line with this, Petronas is also engaging with industrial emitters in Korea and Singapore that are seeking access to storage options in Malaysia to meet their respective national decarbonisation targets. As part of its broader push towards net-zero carbon emissions by 2050, the company aims to launch CCS as a commercial service by late 2029 or early 2030. "This is not just about Petronas. It is about building a broader ecosystem that enables real climate action – locally and regionally," Emry added.
Zawya
21-05-2025
- Business
- Zawya
Oman: Energy shift must balance business, climate
MUSCAT: The energy transition must strike a pragmatic balance between climate ambitions and business sustainability, said Emry Hisham Yusoff, Senior General Manager of the Carbon Management Division, Upstream at Malaysia's Petronas. Speaking at a panel session during the Oman Petroleum & Energy Show (OPES), Yusoff addressed growing concerns among industry stakeholders about the economic viability of decarbonisation pathways, especially in the context of carbon capture and storage (CCS) and other capital-intensive interventions. 'Yes, there is pressure in investor and stakeholder meetings,' he acknowledged. 'But we must ensure that alignment remains between long-term climate targets and the realities of running viable energy businesses.' Yusoff noted that natural gas continues to play a critical role in Malaysia's energy mix, not just as a transition fuel but also as a core product in global markets. 'Gas demand is still growing—especially in Asia. We continue to see interest in LNG and related projects. It's not about stopping activity, but about transforming it responsibly.' On CCS, Yusoff was cautious but optimistic. 'In places like the US, where the government supports CCS through incentives such as the Inflation Reduction Act (IRA), projects are moving. But for us in Southeast Asia, the economics are different. The CO₂ concentration in our emissions streams is often below 4%, which makes capture much more energy- and cost-intensive,' he explained. He added that Petronas is now reassessing how best to approach energy efficiency and emissions reduction. 'We are working to reduce our own energy use and emissions intensity across upstream operations. But we also need to consider whether investments are achieving meaningful impact or just adding operational complexity.' Yusoff emphasised that energy transition strategies must be tailored to regional and operational contexts. 'This is not a copy-paste exercise. We must understand what works locally and where we need to refocus efforts.' 2022 © All right reserved for Oman Establishment for Press, Publication and Advertising (OEPPA) Provided by SyndiGate Media Inc. (
Observer
20-05-2025
- Business
- Observer
Energy shift must balance business, climate
MUSCAT, MAY 20 The energy transition must strike a pragmatic balance between climate ambitions and business sustainability, said Emry Hisham Yusoff, Senior General Manager of the Carbon Management Division, Upstream at Malaysia's Petronas. Speaking at a panel session during the Oman Petroleum & Energy Show (OPES), Yusoff addressed growing concerns among industry stakeholders about the economic viability of decarbonisation pathways, especially in the context of carbon capture and storage (CCS) and other capital-intensive interventions. 'Yes, there is pressure in investor and stakeholder meetings,' he acknowledged. 'But we must ensure that alignment remains between long-term climate targets and the realities of running viable energy businesses.' Yusoff noted that natural gas continues to play a critical role in Malaysia's energy mix, not just as a transition fuel but also as a core product in global markets. 'Gas demand is still growing—especially in Asia. We continue to see interest in LNG and related projects. It's not about stopping activity, but about transforming it responsibly.' On CCS, Yusoff was cautious but optimistic. 'In places like the US, where the government supports CCS through incentives such as the Inflation Reduction Act (IRA), projects are moving. But for us in Southeast Asia, the economics are different. The CO₂ concentration in our emissions streams is often below 4%, which makes capture much more energy- and cost-intensive,' he explained. He added that Petronas is now reassessing how best to approach energy efficiency and emissions reduction. 'We are working to reduce our own energy use and emissions intensity across upstream operations. But we also need to consider whether investments are achieving meaningful impact or just adding operational complexity.' Yusoff emphasised that energy transition strategies must be tailored to regional and operational contexts. 'This is not a copy-paste exercise. We must understand what works locally and where we need to refocus efforts.'
