Technip Energies and Petronas have signed a heads of agreement (HOA) establishing a strategic collaboration framework for the further development and commercialisation 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 committed to accelerating the transition to a net zero carbon future through increasing innovation and fostering active technology collaborations.
Both companies will work together on furthering the development of carbon capture technologies as well as the associated services and equipment, in order to help operators reduce their assets’ carbon emissions in a sustainable manner.
Arnaud Pieton, CEO of Technip Energies, commented: “Collaboration is vital across the industry to accelerate 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 decarbonisation 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 commercialise will serve the decarbonisation efforts of Petronas and other clients extensively.”
Bacho Pilong, Senior Vice President of Project Delivery and Technology at Petronas, added: “Petronas leverages on innovations in a holistic approach towards its Net Zero Carbon Emissions 2050 aspiration and has identified carbon capture, utilisation 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.”
Read the article online at: https://www.hydrocarbonengineering.com/the-environment/16112021/technip-energies-and-petronas-join-forces/
You might also like
ExxonMobil has announced that its majority-owned affiliate, Imperial Oil Ltd, will invest approximately US$560 million to move forward with construction of a renewable diesel facility in Canada.