PETALING JAYA: Malaysia is ideal to be developed into a regional carbon capture, utilisation and storage (CCUS) hub, says Hong Leong Investment Bank (HLIB) Research.
This is underpinned by some major gas-producing fields nearing the end of their lifespan, local oil and gas (O&G) companies equipped with technical knowledge capabilities to support carbon capture and storage (CCS) developments and tax incentives by the government.
Under the National Energy Transition Roadmap (NETR), the country aims to develop three CCUS hubs (two in the Peninsular and one in Sarawak) with a total storage capacity of up to 15 million tonnes per annum by 2030.
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