Technip Energies, PETRONAS partners to accelerate CO2 capture tech development
Technip Energies and PETRONAS have announced that they have signed a Heads of Agreement (HOA) establishing a strategic collaboration framework for the further development and commercialization of carbon capture technologies.
These include PETRONAS' Rotating Pack Bed assisted cryogenic CO2 recovery technology (CryoMin), and membrane-based CO2 recovery technology (PN2).
Technip Energies and PETRONAS are devoted to accelerating the transition to a net-zero carbon future through increasing innovation and encouraging active technology collaborations.
Both companies will work together on furthering the development of carbon capture technologies as well as the associated services and equipment, to help operators, reduce their assets' carbon emissions sustainably.
Arnaud Pieton, CEO of Technip Energies, stated: "Collaboration is vital across the industry to accelerate the energy transition. We are proud to have signed this strategic partnership with PETRONAS, a long-standing client and partner which has in the past entrusted Technip Energies to design and deliver some of its most iconic assets. This new partnership extends our historical collaboration with PETRONAS into technology development within energy transition, calling on Technip Energies' extensive capabilities on decarbonization technologies. It will generate unique synergies by combining Technip Energies' and PETRONAS' respective experiences in the development of essential technologies for the capture and management of CO2. I trust that the technologies that we will co-develop and commercialize will serve the decarbonization efforts of PETRONAS and other clients extensively."
Bacho Pilong, Senior Vice President of Project Delivery and Technology at PETRONAS, said: "PETRONAS leverages on innovations in a holistic approach towards its Net Zero Carbon Emissions 2050 aspiration and has identified carbon capture, utilization and storage (CCUS) technologies among core enablers towards achieving the ambition. We are excited about the many possibilities to be created under this collaboration between two companies equally passionate about advancing technologies that will mutually progress our sustainability agenda.
We also hope our synergy and the ensuing successes will spur similar partnerships that meet the triple bottom lines of profit, people, and the planet for a better tomorrow".