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PETRONAS

Renewables/Energy Transition

ExxonMobil eyes huge CCS potential in Southeast Asia

ExxonMobil (NYSE:XOM), which set up a low-carbon solutions division in February, is focusing on building a carbon capture and storage (CCS) business in Asia. Significantly, ExxonMobil believes there is over 300 billion tonnes of storage capacity in Southeast Asia alone, Tracy Lothian, vice president marketing, finance & commercial development, low carbon solutions, at the US giant, said today.

Asia

Repsol sets date for Indonesia CCS project

Repsol (BME:REP) said it will start up a key carbon capture and storage (CCS) project in Indonesia in 2027. Significantly, the CCS scheme tied to the onshore Sakakemang Block will be among the largest of its kind in the world and will be the first for both Repsol and Indonesia, claimed the Spanish company.

Asia

‘Carbon Neutral’ LNG demand soars in Asia despite criticism

Liquefied natural gas (LNG) shipments tagged “carbon neutral” are gaining popularity among Asian buyers, despite criticism that the offsets used to justify the label don’t actually cancel out planet-warming emissions generated by the fossil fuel.

Asia

Carbon capture and the future of LNG in Asia

Carbon capture and storage (CCS) will play an important role in decarbonising liquefied natural gas (LNG), but the pace of progress remains too slow, writes Gavin Thompson, Asia Pacific vice chair, Wood Mackenzie.

Asia

Investment nod for Shell’s Timi gas project off Malaysia

Shell and its partners, Petronas Carigali and Brunei Energy Exploration, have taken a final investment decision (FID) on the Timi sweet gas development offshore Malaysia that will help boost the country’s liquefied natural gas (LNG) exports. Significantly, Shell said the development marks its first offshore wellhead platform to be powered by solar and wind in Malaysia.

Asia

Indian Oil eyes LNG investments with Petronas

Indian Oil Corporation said Friday that it is expanding its joint venture with Malaysian state-backed energy company Petronas to include building liquefied natural gas (LNG) terminals, as well fuel retailing and gas distribution in India. Liquefied petroleum gas (LPG) is already imported by Indian Oil under an equal joint venture with Petronas called IndianOil Petronas.

Asia

Buyers question ‘carbon-neutral LNG’ cargo credentials

Over the past year or so, liquefied natural gas (LNG) producers, as well as buyers in North Asia, particularly Japan, have been quick to announce their involvement with so called ‘carbon-neutral LNG’ cargoes. However, some LNG buyers at the Future Energy Asia conference questioned whether LNG can really be carbon neutral.

Asia

Petronas CEO talks up sustainable energy transition

Tengku Muhammad Taufik, chief executive of Malaysian national energy company Petronas, today told the Asia Future Energy conference, that the pathway to a sustainable energy system is not yet clear. Moreover, there will be many different paths to achieving a net-zero emissions energy system, he said.

Asia

Pertamina courts ExxonMobil at East Natuna for oil development

Indonesian national oil company (NOC) Pertamina is doggedly pursuing US major ExxonMobil to help it develop oil resources at the giant East Natuna field in the disputed waters of the South China Sea. Development of the field faces huge technical, economic and geopolitical challenges, but Pertamina believes a gradual phased development, starting with oil could offer a solution.