S'abonner

HYCO1 and Malaysia LNG sign memorandum of understanding for a carbon capture and utilization project

HYCO1 and Malaysia LNG Sdn. Bhd. have signed a memorandum of understanding for a carbon dioxide (CO2) capture and utilization project in Bintulu, Malaysia, aiming to transform 1 million tons of CO2 per year into low-emission syngas.

Share:

HYCO1, Inc. and Malaysia LNG Sdn. Bhd. have signed a memorandum of understanding (MOU) to develop a carbon dioxide (CO2) capture and utilization project in Bintulu, located in Sarawak, Malaysia. The goal of the project is to capture 1 million tons of CO2 per year and convert it into low-emission syngas using HYCO1’s CUBE™ technology. This technology allows the replacement of natural gas with CO2 to produce syngas made up of carbon monoxide (CO) and hydrogen (H2).

Strategic partnership between HYCO1 and Malaysia LNG

The project will be supplied by Malaysia LNG (MLNG), a subsidiary of PETRONAS. This collaboration aims to reduce industrial emissions while providing a more cost-effective solution. Instead of merely capturing CO2, the project plans to transform it into valuable chemicals and fuels. The captured CO2 will be used in the CUBE™ process to produce low-carbon syngas, a less expensive alternative to syngas made solely from natural gas.

Under the agreement, MLNG will supply an annual CO2 feedstock of 1 million tons for a 20-year period, starting in 2030. This partnership exemplifies an innovative approach to large-scale decarbonization.

Joint feasibility study to assess design options

HYCO1 and MLNG will conduct a joint feasibility study to evaluate the different design options for the CO2 conversion plant. The project is expected to be operational by 2029. The study will aim to identify the most efficient solution for producing low-cost, low-emission syngas, in response to growing demand in the chemical and energy sectors.

A new approach to CO2 transformation

Unlike traditional carbon capture and sequestration (CCS) initiatives, this project distinguishes itself by aiming to convert captured CO2 into valuable products. With the CUBE™ technology, HYCO1 hopes to lower syngas production costs while contributing to decarbonization goals. The process enables the production of “blue” syngas, emission-free, at a cost lower than that of traditional “gray” syngas made from natural gas.

The project represents an innovative economic and environmental model that could have a significant impact on the global syngas production industry while contributing to the reduction of CO2 emissions.

  • Popular on energynews.pro
Kazakhstan launches oil refining strategy to 2040 with $5bn in investments
Hungary confirms launch of Paks-2 with Rosatom by autumn
US tariffs and FEOC restrictions threaten solar supply chain and create risks for the industry
Hungary asserts refusal to abandon Russian oil and gas in face of European Union
Tulip Innovation secures third injunction against Sunwoda in battery patent dispute
Carbonova secures $3.20mn for a pilot carbon nanofiber unit in Calgary
Carbonova receives $3.20mn from the Advanced Materials Challenge programme to launch the first commercial demonstration unit for carbon nanofibers in Calgary, accelerating industrial development in advanced materials.
Chestnut Carbon secures pioneering non-recourse financing of $210mn for afforestation in the U.S.
Chestnut Carbon has secured a non-recourse loan of $210mn led by J.P. Morgan, marking a significant step for afforestation project financing and the growth of the U.S. voluntary carbon market.
TotalEnergies invests in sustainable forestry management with NativState in the United States
TotalEnergies seals partnership with NativState to develop thirteen forestry management projects across 100,000 hectares, providing an economic alternative to intensive timber harvesting for hundreds of private landowners.
Drax strengthens its lead as the UK’s top carbon emitter in 2024
Drax’s generation site recorded a 16% rise in its emissions, consolidating its position as the UK’s main emitter, according to analysis published by think tank Ember.
Graphano Energy unveils an initial resource estimate for the Lac Saguay graphite deposit
Graphano Energy announces an initial mineral resource estimate for its Lac Saguay graphite properties in Québec, highlighting immediate development potential near major transport routes, supported by independent analyses.
Carbon2Nature and Uría Menéndez launch reforestation of 90 hectares in Salamanca
Carbon2Nature, a subsidiary of Iberdrola, partners with law firm Uría Menéndez on a 90-hectare reforestation project in Sierra de Francia, targeting carbon footprint compensation for the legal sector.
First commercial seaweed harvest completed in Dutch offshore wind farm
North Sea Farmers has carried out the very first commercial-scale seaweed harvest in an offshore wind farm, supported by funding from the Amazon Right Now climate fund.
NWF injects GBP 28.6 million into Peak Cluster project for CO₂ capture
The UK's National Wealth Fund participates in a GBP 59.6 million funding round to finance a CO₂ capture pipeline for the cement and lime industry, targeting a final investment decision by 2028.
Bayou Bend accelerates carbon storage on the US Gulf Coast
The Bayou Bend project, led by Chevron, Equinor, and TotalEnergies, aims to become a major hub for industrial carbon dioxide storage on the US Gulf Coast, with initial phases already completed.
Chloris Geospatial raises $8.5M to scale satellite-based forest carbon monitoring
US-based Chloris Geospatial has raised $8.5M from international investors to expand its satellite-based forest monitoring capabilities and strengthen its commercial position in Europe, addressing growing demand in the carbon market.
Ottawa injects CAD21.5mn ($15.8mn) into new carbon capture projects
The federal government is funding three carbon capture, utilisation and storage initiatives in Alberta, strengthening national energy competitiveness and preparing infrastructure aligned with long-term emission-reduction goals.
Donald Trump significantly increases US tax credits for carbon capture
Donald Trump approves a substantial increase in US tax credits aimed at carbon capture and utilization in oil projects, significantly reshaping economic outlooks for the energy sector and drawing attention from specialized investors.
EU Unlocks €2.1 Billion to Protect its Exporters from Carbon Costs
The European Union unveils a plan aimed at protecting its exporting industries from rising carbon policy costs, using revenue generated from its border adjustment mechanism.
Colombian Carbon Market Under Pressure: Excess Credits and Waning Confidence
Colombia is experiencing a significant drop in voluntary carbon credit prices due to a major oversupply, destabilizing the financial balance of associated communities and projects.
France and Norway formalize an agreement on cross-border CO₂ transport
France and Norway sign an agreement facilitating the international transport of CO₂ to offshore geological storage facilities, notably through the Northern Lights project and the CO₂ Highway Europe infrastructure.
Frontier signs offtake agreement for 120 000 tonnes of BECCS credits
Frontier Infrastructure Holdings has signed an offtake agreement with manager Wild Assets for up to 120 000 tonnes of BECCS credits, underscoring the voluntary market’s growing appetite for traceable, high-permanence carbon removals.
Wood Mackenzie forecasts $1.35 trillion for CCUS and carbon credits markets
Global carbon capture and offset credit markets could exceed $1.35 trillion by 2050, driven by private investment, technological advances, and regulatory developments, according to analysis published by Wood Mackenzie.
Australian Carbon Credit Market: New Players Influence Price Dynamics
The Australian carbon credit market is experiencing temporary price stabilization, while the emergence of new alternative financial instruments gradually attracts corporate attention, subtly altering the commercial and financial dynamics of the sector.
Norway Launches Complete Industrial Chain for Carbon Capture and Storage
Norway has launched a major industrial project aimed at capturing, maritime transport, and geological storage of CO₂, mobilizing key energy players and significant public subsidies to ensure economic viability.
The EU grants €21mn to accelerate industrial decarbonisation in Egypt
A €21mn European grant, managed by EIB Global, will fund Egyptian projects aimed at cutting industrial emissions and boosting recycling, while a related €135mn loan is expected to raise additional climate investments.

FOSSILS

POLICY

RENEWABLE

PLUS

© XMARKET PUBLISHING