# Petronas, TotalEnergies and Mitsui ink carbon capture and storage project deal
Author:  Pal Sinha,Barnali
Author URL: https://economystandard.com/author/pal-sinha-barnali/
Published: 2023-06-27
Category: Headlines
Category URL: https://economystandard.com/category/headlines/
Meta Title: Petronas, TotalEnergies and Mitsui join forces for carbon ca
Meta Description: Learn about the latest development agreement signed between Petronas, TotalEnergies, and Mitsui for a carbon capture and storage project in Malaysia.
URL: https://economystandard.com/petronas-totalenergies-and-mitsui-ink-carbon-capture-and-storage-project-deal/

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## Petronas, TotalEnergies and Mitsui ink carbon capture and storage project deal   KUALA LUMPUR (Reuters) –     Petronas said on Tuesday it has signed a development agreement with TotalEnergies Carbon Neutrality Ventures and Mitsui & Co. Ltd., to collaborate on a carbon capture and storage (CCS) project in Malaysia.    The agreement will cover all aspects of CCS development, from evaluating maturing depleted field and saline aquifers for storage, to identifying potential customers and establishing the necessary commercial and legal frameworks.    The deal, signed on Monday, follows a memoranda of understanding (MoU) signed by the companies earlier in 2022.    A carbon capture and storage (CCS) process captures carbon dioxide (CO2) generated from industrial activity, transports it, and then stores it underground.                (Reporting by Mei Mei Chu; Writing by Jeslyn lerh; Editing by Shri Navaratnam)


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