Samsung, 5 other South Korean firms to work with Malaysian energy firm for carbon capture storage project
Samsung Engineering Co. and five other South Korean companies have teamed up with Malaysia’s state energy company Petroliam Nasional Berhad to work on a project to capture, transport, and store carbon dioxide, and emerging technology for emissions reduction.
Under a memorandum of understanding signed in a virtual meeting in Kuala Lumpur, the companies said they plan to carry out a feasibility study to assess the practicality of the project, according to the South Korean News Agency (Yonhap).
The five South Korean companies are SK Energy Co.; Samsung Heavy Industries Co.; Lotte Chemical Corp.; GS Energy Corp.; and SK Earth On Co.
The project’s main objective is to transfer South Korean industrial sites’ carbon dioxide emissions to Malaysia for storage.
Carbon capture and storage is referred to as a key technology that can help tackle global warming as the carbon dioxide captured from industrial sites can be used as a resource or feedstock to create other products or services, or be permanently stored underground.