Thailand launches first carbon credit exchange to curb emissions
Thailand this month launched its first carbon credit exchange, marking a major step toward the country’s goal to achieve carbon neutrality by 2050 and combat climate change.
carbon
Petronas strengthens collaboration with Japan on carbon neutral targets
Malaysia’s Petronas has signed a memorandum of cooperation (MoC) with the Ministry of Economy, Trade and Industry of Japan (METI), as well as a memorandum of understanding (MoU) with Japan Bank for International Cooperation (JBIC), to collaboratively pursue mutual sustainability goals of achieving carbon neutrality by 2050.
Chevron confirms Australia CCS acreage win
US giant Chevron (NYSE:CVX) has confirmed that it has been granted stakes in three permits to potentially access carbon storage offshore Australia.
CCS will be key as Asia faces steep rise in coal power
Ageing coal-fired power is increasingly replaced by renewable energy generation in the US and Europe. However, transitioning away from thermal coal will be complex and slow for Asian nations, particularly India and China, which make up 70% of global coal demand and face a steep rise in power demand.
India planning carbon credit market for energy
India is planning to start a carbon trading market for major emitters in the energy, steel and cement industries, as part of its efforts to hasten the transition to cleaner fuels.
Storegga partner Mitsui teams up with Petronas for Malaysia CCS
Malaysian national oil company Petronas has signed a memorandum of understanding with Japan’s Mitsui for the conceptual and feasibility studies on the carbon capture and storage (CCS) value chain, including the evaluation of carbon dioxide (CO2) storage sites in Malaysia. Significantly, Mitsui is a shareholder in UK-based carbon management business Storegga, that is developing the Acorn CCS project.
More M&A in APAC: ESG worries and Woodside-BHP deal see more assets up for sale
More merger and acquisition (M&A) opportunities are expected to hit the market in Asia Pacific, as international oil companies (IOCs) continue to rationalise their portfolios, and ESG concerns trigger further divestments. This will help to unlock the deal flow in APAC, but potential acquirers could struggle to secure necessary finance without a strong ESG narrative.
Carbon capture in Southeast Asia: myths and realities
In recent years the debate around carbon capture utilisation and storage (CCUS) has gained traction in Southeast Asia. However, the establishment of CCUS in the region is likely to be limited to gas processing and some industrial applications, reckons the Institute for Energy Economics and Financial Analysis (IEEFA).
Santos eyes cheaper carbon storage offshore East Timor at new $1.7bn APAC hub
Developing carbon capture and storage (CCS) projects in Southeast Asia is considerably cheaper than developing similar projects in more developed economies, such as Australia.
TechnipEnergies offshoot Genesis gets carbon gig in Australia
Genesis, a wholly owned TechnipEnergies company, have signed a Master Service Agreement (MSA) with PZE Limited (PZE) to provide decarbonisation and advisory services for various projects in Australia.
Chevron and Pertamina team up for low carbon opportunities in Indonesia
Chevron (NYSE:CVX) and Pertamina will together explore potential business opportunities in geothermal, carbon capture utilisation and storage (CCUS), as well as hydrogen, in Indonesia, after signing an agreement in Washington.
Woodside eyes carbon-to-products pilot project in Perth
Australian oil and gas company Woodside is planning to build a pilot carbon capture and utilisation plant in Western Australia. The Eastern Metropolitan Regional Council (EMRC) and Woodside are collaborating on a carbon-to-products pilot project that proposes to recycle greenhouse gases into useful products.
CCS adoption in Southeast Asia highly unlikely, reports IEEFA
Widespread adoption of carbon capture, utilisation and storage (CCUS) technologies in Southeast Asia remains highly unlikely, according to the latest findings from the Institute for Energy Economics and Financial Analysis (IEEFA).
Woodside teams up with US tech for Australia carbon capture and utilisation
Australia’s Woodside (ASX:WPL) and US-based technology developers ReCarbon and LanzaTech have launched a collaborative studies campaign aimed at converting carbon emissions into useful products.
POSCO and Petronas team up for CCS in Malaysia
Malaysian state energy company Petronas and South Korea’s POSCO International will jointly explore opportunities in carbon capture and storage (CCS) technologies, as well as carbon dioxide (CO2) storage solutions in Malaysia. Significantly, Petronas wants to establish Malaysia as the leading hub for CCS in the Asia region.
Linde studies carbon dioxide liquefaction and storage with Singapore LNG
Singapore LNG (SLNG) and Linde have signed a memorandum of understanding to collaboratively explore the feasibility and development of a carbon dioxide (CO2) liquefaction and storage facility in what could be a first in Asia.
Solar needs to dethrone coal to meet Indonesia goals, study says
Solar power holds the key to meeting renewable energy targets for Indonesia, but the fast-growing Southeast Asian economy needs significant reforms to steer it away from an over-reliance on coal, according to a report.
PTTEP seeks technologies to cut carbon footprint
Thailand’s PTT Exploration & Production (PTTEP) is working with Netherlands-based TechnologyCatalogue.com to find novel and proven technologies to reduce its carbon (CO2) footprint.
Covid and climate concerns delay investment decision for Abadi LNG
Inpex will delay a final investment decision (FID) for its proposed Abadi liquefied natural gas (LNG) development in the Masela Block offshore Indonesia as survey work has been disrupted by the Covid-19 pandemic and design adjustments may be needed due to climate change.
Temasek defends green goals after backing Singapore polluters
It might seem contradictory to invest in carbon-emitting polluters while pledging to be an eco-trailblazer, but that’s exactly what Singapore state investor Temasek Holdings, which owns shares in two of the world’s largest rig builders, is attempting to do.
Singapore prepares to swap its oil hub status for greener future
Royal Dutch Shell announced late last year it would slash capacity by half at its biggest oil refinery. For Singapore, where the plant has been a mainstay of the economy for six decades, it marked a turning point in one of the most successful bets on fossil fuels in history.
Petronas starts solar initiative to power its assets in net-zero push
Malaysia’s Petronas, which has yet to make a firm carbon-neutral pledge, will deploy solar energy at the group's assets across Malaysia to boost efficiency and cut carbon emissions as part of its sustainability agenda and “aspiration” of Net Zero Carbon Emissions by 2050 (NZCE 2050).
Sinopec builds China’s first large CCS project
China’s Sinopec has started building the country’s first large-scale carbon capture utilisation and storage (CCUS) project as part of its target to be carbon-neutral by 2050.
Chevron makes $4bn investment to keep pumping Gorgon LNG
The Chevron-led Gorgon LNG venture in Australia will proceed with a $4 billion investment for the Jansz-Io compression development that will keep customers in Asia supplied with gas for decades. Significantly, the subsea compression project, needed to move the gas from the deep seas to shore, will be the first of its kind outside of Norway.
Industry collaboration on carbon capture is key to unlock net-zero economy
Carbon capture and storage (CCS) is seen as an essential requirement by the oil and gas industry for it to meet the targets of the Paris Agreement, however the only way it will become commercially viable is if companies collaborate to create shared-CCS hubs, according to Wood Mackenzie.