Decarbonization projects growing, but lack of regulations is impeding operations
A regional grouping of major energy companies is calling for a cross-border regulatory framework to enable transport of carbon between countries and accelerate the uptake of carbon capture and storage (CCS) in Asia, its chief told Nikkei Asia.
Indonesia, Malaysia, Australia, Thailand and East Timor are eager to develop hubs for the crucial decarbonization technology by tapping their reservoirs — mostly in the form of depleted oil and gas fields and saline aquifers. CCS technology allows carbon captured from the atmosphere elsewhere to be injected into such reservoirs and permanently stored inside. If the carbon is utilized for other purposes, such as to increase production in aging oil fields, the broader carbon capture, utilization and storage (CCUS) term is used.
Source : Nikkei