By Kim Seung-yeon
SEOUL, Aug. 11 (Yonhap) — Several energy firms, including South Korea’s Hanwha Corp. and the Netherlands-based Shell Gas & Power Developments B.V., have signed up for a carbon capture and storage (CCS) project in Malaysia, SK Innovation Co. reported on Friday.
The Korea National Oil Corp. and Air Liquide Korea, an affiliate of French industrial gas provider Air Liquide S.A., are also part of the consortium for the Shepherd CCS project in the Southeast Asian country, SK Innovation said.
The initiative was launched in August last year, with the initial agreement involving a group of South Korean companies — SK Energy Co., SK Earthon Co., Samsung Engineering Co., Samsung Heavy Industries Co. and Lotte Chemical Corp. — and Malaysia’s state-run oil company National Petroleum Ltd., better known as Petronas.
This image, provided by SK Innovation Co. on Aug. 11, 2023, shows a bird's-eye view of the envisioned carbon capture plants in South Korea under the Shepherd CCS project. (PHOTO NOT FOR SALE) (Yonhap)
The purpose of the Shepherd project is to capture carbon dioxide emitted from industrial sites in Korea and transfer it to carbon capture plants in the country before transporting it to Malaysia for onshore storage or offshore sequestration.
The memorandum of understanding has been updated to include the new participants, SK Innovation said.
SK Innovation, the parent of SK Energy and SK Earthon, said earlier the Shepherd plan will be a major project in Asia that covers the whole cycle of the CCS value chain.
The participating companies have identified the locations for the local capture plants in South Korea and the storage site in Malaysia.
With the feasibility study under way, the participants plan to look for additional sites for the capture plants and storage units to expedite the process, SK Innovation said.
This image provided by SK Innovation Co. on Aug. 11, 2023, shows the mimic diagram for the Malaysian CCS project. (PHOTO NOT FOR SALE) (Yonhap)
elly@yna.co.kr
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