PETRONAS, TotalEnergies, and Mitsui Lock In Malaysia’s Southern CCS Hub JV
A new Malaysia CCS joint venture shows the market shifting from storage-only projects to integrated transport-and-storage hubs built around contracted CO2 volumes.
Updated
What is this trend?
PETRONAS, TotalEnergies, and Mitsui are building a bundled transport-and-storage CCS platform in southern Malaysia, signaling that contracted CO2 throughput is becoming the real moat in carbon capture.
- JV combines storage, liquefied-CO2 shipping, and port infrastructure
- Southern CCS Hub targets up to 5 Mtpa in its first phase
- Focus is shifting from storage access to bankable throughput contracts
- Aimed at domestic and regional hard-to-abate emitters, but no anchor customers named
- Execution now hinges on permitting, transport buildout, and long-term volume commitments
What’s the latest?
PETRONAS, TotalEnergies, and Mitsui this week formed the JV for Malaysia’s Southern CCS Hub, centered on Kuantan Port and a first-phase depleted offshore gas field sized for up to 5 million tonnes of CO2 injection a year
How it developed
- Storage rights, regulated CCS markets, and permitting control reshape project winners
- Offshore Storage Infrastructure Is Becoming the CCS Moat