Calendar An icon of a desk calendar. Cancel An icon of a circle with a diagonal line across. Caret An icon of a block arrow pointing to the right. Email An icon of a paper envelope. Facebook An icon of the Facebook "f" mark. Google An icon of the Google "G" mark. Linked In An icon of the Linked In "in" mark. Logout An icon representing logout. Profile An icon that resembles human head and shoulders. Telephone An icon of a traditional telephone receiver. Tick An icon of a tick mark. Is Public An icon of a human eye and eyelashes. Is Not Public An icon of a human eye and eyelashes with a diagonal line through it. Pause Icon A two-lined pause icon for stopping interactions. Quote Mark A opening quote mark. Quote Mark A closing quote mark. Arrow An icon of an arrow. Folder An icon of a paper folder. Breaking An icon of an exclamation mark on a circular background. Camera An icon of a digital camera. Caret An icon of a caret arrow. Clock An icon of a clock face. Close An icon of the an X shape. Close Icon An icon used to represent where to interact to collapse or dismiss a component Comment An icon of a speech bubble. Comments An icon of a speech bubble, denoting user comments. Ellipsis An icon of 3 horizontal dots. Envelope An icon of a paper envelope. Facebook An icon of a facebook f logo. Camera An icon of a digital camera. Home An icon of a house. Instagram An icon of the Instagram logo. LinkedIn An icon of the LinkedIn logo. Magnifying Glass An icon of a magnifying glass. Search Icon A magnifying glass icon that is used to represent the function of searching. Menu An icon of 3 horizontal lines. Hamburger Menu Icon An icon used to represent a collapsed menu. Next An icon of an arrow pointing to the right. Notice An explanation mark centred inside a circle. Previous An icon of an arrow pointing to the left. Rating An icon of a star. Tag An icon of a tag. Twitter An icon of the Twitter logo. Video Camera An icon of a video camera shape. Speech Bubble Icon A icon displaying a speech bubble WhatsApp An icon of the WhatsApp logo. Information An icon of an information logo. Plus A mathematical 'plus' symbol. Duration An icon indicating Time. Success Tick An icon of a green tick. Success Tick Timeout An icon of a greyed out success tick. Loading Spinner An icon of a loading spinner.

Inpex and JGC hook up with PTTEP to explore CCS in Thailand

© BloombergSignage for a PTT Pcl gas station stands illuminated in Bangkok, Thailand, on Thursday, Feb. 11, 2016.  Photographer: Brent Lewin/Bloomberg
Signage for a PTT Pcl gas station stands illuminated in Bangkok, Thailand, on Thursday, Feb. 11, 2016. Photographer: Brent Lewin/Bloomberg

Japanese companies Inpex and JGC are teaming up with Thai upstream player PTT Exploration & Production (PTTEP) to explore potential carbon capture and storage (CCS) developments in Thailand. The move follows PTTEP’s recent announcement that it has set a 2050 carbon neutral target.

The trio signed a memorandum of understanding (MoU) covering the study of CCS solutions to help industries, including the oil and gas sector, as well as hard-to-abate industries, and power generation cut their carbon dioxide (CO2) emissions.

The collaboration will involve identifying and evaluating facilities, as well as procedures and technologies, concerning CCS, to build viable CCS solutions for Thailand, JGC said in a statement.

This collaboration on the Thailand Carbon Capture and Storage Initiative is linked to the Asia Energy Transition Initiative (AETI), a plan unveiled by the government of Japan in 2021 that aims to help achieve sustainable economic growth and carbon neutrality in Asia through energy transitions. The collaboration may also lead to opportunities in other related businesses including low carbon solutions and clean energy such as hydrogen and ammonia, which would help accelerate the transitions, added JGC.

PTTEP’s Net Zero Target

Thailand’s PTTEP is the latest national oil company (NOC) to announce a net zero emissions target, setting 2050 as the date by which it will go carbon neutral. PTTEP’s target covers scope one and two emissions for assets under operational control. In support of this goal, PTTEP aims to reduce scope one and two emission intensity by 30% by 2030, and by 50% by 2040.

To reduce emissions, PTTEP will increase its emphasis on natural gas, and factor emissions intensity into future investment decisions. Energy research firm Wood Mackenzie’s modelling shows the share of gas in PTTEP’s annual output is set to rise to 50% by 2026, while net equity intensity will fall significantly between 2020 and 2030.

However, based on Wood Mackenzie’s estimates, operated intensity will remain steady over the period. “Considerable investment will be required to minimise emissions from mature operations in the Gulf of Thailand, and to apply CCS to new projects in Sarawak, Malaysia,” noted Andrew Harwood, Asia Pacific research director at Wood Mackenzie.

Recommended for you

More from Energy Voice

Latest Posts