A Heads of Agreement has been signed between TechnipFMC, the engineering and technology expert in the energy sector, and Petronas, the Malaysian oil and gas major, for teaming up together to take further the development and commercialization of carbon capture technologies. The two companies will bring together their expertise to drive innovation and technology collaborations enabling the acceleration of net-zero transition of the petrochemical businesses.
The co-developed technologies will be dedicated to the capture and adequate management of carbon dioxide. Petronas will be leveraging its Rotating Pack Bed assisted cryogenic CO2 recovery technology and its membrane-based CO2 recovery technology for the decarbonization initiative. Petronas, which is already walking on the road to sustainability with its Net Zero carbon emission 2050 target, identifies carbon capture, utilization, and storage technologies imperative to achieving low carbon dioxide (CO2) emissions during plant operations. The technologies will also be helpful in slashing down the carbon emissions from the existing assets as well.
Carbon dioxide, which naturally occurs in the Earth’s atmosphere in trace amounts, is a colourless acidic gas with heat-trapping properties. CO2 is present in native form in natural sources like hot springs, volcanoes and geysers, and it exists in dissolved form in water bodies such as rivers, seawater, glaciers, groundwater etc. The consumption of fossil fuel is a prominent source of heavy amounts of CO2 emissions which impact the environment by raising its temperature, a phenomenon termed as global warming.
As per ChemAnalyst, though the growth in the petrochemical sector is a major source of a nation’s growing economy, its growth throughout the historical years is also responsible for the large amounts of CO2 emissions in the earth’s atmosphere that has gone beyond the tolerance level. The development and commercialization of carbon capturing technologies is the need of the hour to cap these emissions. Furthermore, the captured CO2 can be supplied for applications in the oil industry, food and beverages sector and the healthcare sector thus catering to carbon dioxide demand in these sectors and making CO2 a part of the circular economy.