Japanese companies, including Japan Petroleum Exploration Co (JAPEX), JGC Holdings Corp, and Kawasaki Kisen Kaisha, are collaborating with Malaysian energy firm Petronas on a carbon capture and storage (CCS) project. The project aims to commence capturing carbon dioxide (CO2) emissions from late 2028. As part of Japan's strategy to achieve carbon neutrality by 2050, the project will involve injecting and storing CO2 from both Japan and Malaysia in depleted oil and gas fields off the Malaysian coast. The initial plan is to inject at least 2 million metric tons of CO2 per year, increasing to 5 million tons annually by the end of the decade and surpassing 10 million tons in the early 2030s. The companies will initiate the front-end engineering design next year.

Source: Reuters