A unit of Thai state oil and gas group PTT aims to put the country’s first carbon capture and storage project into operation by 2026, a key step toward Thailand’s goal of achieving carbon neutrality by 2050.
PTT Exploration and Production intends to sequester carbon dioxide released from the Arthit offshore gas field in the Gulf of Thailand below the seafloor. A feasibility study begun in 2021 was concluded recently, and the project is in the preliminary design phase, the company said.
The cost and technologies to be used will be determined later.
As Thailand’s largest state-owned company, PTT group looks to achieve carbon neutrality by 2050, in line with the government’s goal. PTTEP on June 1 signed a memorandum of understanding with group petrochemical and refining companies to consider carbon capture and storage at their facilities in eastern Thailand.
In April, the unit signed a memorandum of understanding with Japan’s Inpex and JGC Holdings to explore collaboration on carbon capture and storage. The Japanese companies will assist PTTEP in choosing facilities and technologies to set up viable projects in Thailand.
Carbon capture and storage is the key to reducing carbon dioxide emissions at scale, PTTEP CEO Montri Rawanchaikul said Monday. The company also plans to explore new opportunities in renewable energy and hydrogen.