Dutch terminals group Vopak is to work with Malaysian energy company Petronas to capitalise on carbon capture and storage (CCS) opportunities in Singapore.

The two partners have signed a memorandum of understanding (MoU) in Kuala Lumpur for the development of a CCS value chain.

Both companies will jointly study the use of CO2 emitted by industries in Singapore.

This will include CO2 transport from a Vopak terminal for potential injection into regional storage hubs developed by Petronas.