The transition to green energy is still on track despite the energy crisis being played out especially in Europe with many countries considering a return to coal to secure their energy news in view of the Russian sanctions.
The European Union imports about 90 per cent of its gas consumption with Russia supplying about 45 per cent of this.
Petronas vice president of exploration, upstream Mohd Redhani Abdul Rahman said the national oil company will be more responsible about its oil and gas exploration moving forward.
He noted that exploration activities in Malaysia will be higher than in the previous two to three years subject to affordability.
Mohd Redhani pointed out that Petronas is currently ramping up efforts for carbon capture and storage (CCS), not only to reduce its own carbon emissions but also to make Malaysia a hub for CCS due to its geography and capacity.
A lot of people in the industry are talking about pre-combustion carbon capture. This is what we are doing in offshore Sarawak and this is what a lot of people do. Other parts of the world are talking about post-combustion capture and storage.
There may be a day when we can have a gas plant with post-combustion carbon capture. This is another space that the oil and gas, services and equipment players can consider, he told an executive plenary session dubbed ‘Charting the Future of Oil, Gas, Energy in the Region.’
The session was held on the side-lines of the Malaysian Oil and Gas Services Exhibition and Conference (MOGSEC) in Kuala Lumpur, today.
Pre-combustion capture refers to the removal of carbon dioxide (CO2) from fossil fuels before combustion is completed while post-combustion capture is the removal of CO2 from power station flue gas prior to its compression, transportation and storage in suitable geological formation, as part of carbon capture and storage.
According to Petronas’ website, the group uses CCS technology in high CO2 fields. It aims to further capture and store CO2 emissions while maturing technologies for onshore processing plants to utilise and convert CO2 into valuable products.
The Kasawari Integrated Offshore High Contaminant project in Sarawak, a CCS project, is part of its carbon commitment and greenhouse gas emissions reduction efforts.
