KUALA LUMPUR -- Southeast Asia's three biggest national oil companies are intensifying efforts to develop carbon capture and storage (CCS) capabilities in an attempt to both decarbonize and seize opportunities in the nascent industry, their top executives say.
Concerns over the potentially catastrophic impact of a rapidly warming planet have spurred efforts by countries to set targets for achieving zero net carbon emissions by around the middle of this century. Scientists have warned that rises in Earth's temperature must be kept well below 2 degrees Celsius -- and preferably under 1.5 degrees as stipulated in the Paris climate accords -- versus preindustrial levels. CCS and carbon capture, utilization and storage (CCUS) are seen as ways to reduce the negative effects of fossil fuel use.
