The Petronas project, which reached a final investment decision at the end of last year, will be the world’s largest offshore carbon capture and sequestration facility if the project comes to fruition as expected. Petronas said it will have the capacity to reduce carbon dioxide emissions by 3.3 million tons a year. The project is meant to reduce the amount of CO2 emitted through flaring at the Kasawari gas development in Malaysia.
Carbon capture and storage projects have been a mainstay in oil and gas company plans to reduce emissions and hit net-zero goals. However, some environmental advocates say the industry is relying too heavily on technology like carbon capture instead of focusing on developing renewable fuel sources.
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