Carbon capture and storage (CCS) technology is used to reduce carbon dioxide in the air. It is one of the solutions to the concentration of CO2 in the air which has now reached the highest level in the history of world civilization. At this time the CCS industry is dominated by European countries, China and the United States. But the Ministry of Economy develops this industry as a whole to make Malaysia the leader of CSS in the Asian region.
This wish was conveyed by the Minister of Economy, Rafizi Ramli during the CCS Industry Conference which was held for the first time in the capital today. According to him, Malaysia has the potential to be a leader in CSS technology because it has oil wells that are no longer used as storage. With that foreign countries can export CO2 to Malaysia to be stored later.
Among the steps that will be taken by the Ministry of Economy is to speed up the legislative process for specific CCS legislation, with it expected to be approved in 12-15 months only compared to the usual 2-4 years. CCS will become a new industry under the National Energy Transition Roadmap (NETR).
In Malaysia PETRONAS has started their CCS project in Bintulu Sarawak in collaboration with Shell and Japan Petroleum Exploration Co. Limited (JAPEX) since last year.