Shell signs MoU to explore carbon transport, storage options in Brunei and Singapore

Shell Jap Petroleum, a unit of worldwide oil and gasoline main Shell Plc, mentioned on Wednesday it had signed a memorandum of understanding (MoU) with Brunei Shell Petroleum (BSP) to discover carbon transport and storage choices in Brunei and Singapore.

As per the settlement, the businesses will consider the technical and industrial feasibility of carbon storage choices in Brunei Darussalam and carbon transport options from Singapore.

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The Authorities of Brunei Darussalam and Shell group every personal a 50 p.c stake in Brunei Shell Petroleum Firm Sdn Bhd (BSP).

Shell, which has a goal to develop into a net-zero emissions power enterprise by 2050, mentioned the initiative may doubtlessly type a part of a carbon seize and storage (CCS) hub in Southeast Asia.

CCS is rising as a key plank within the combat towards carbon air pollution and local weather change. Earlier this 12 months, Shell introduced plans to construct bigger vessels that may carry extra carbon dioxide over longer distances as a part of the corporate’s plans to develop its carbon seize storage enterprise globally.

“It (CCS) additionally presents a technique to scale back emissions from hard-to-decarbonize industries, resembling these discovered on Jurong Island,” Aw Kah Peng, chairman of Shell Firms in Singapore, mentioned, referring to the guts of Singapore’s chemical and power business.

“This can assist Singapore lower its carbon footprint as we transition to a decrease carbon financial system.”

Learn extra: Airways search govt assist for net-zero carbon emissions pledge