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Hanwha Corp. and Shell Gas & Power Developments B.V. has joined Malaysia's burgeoning Shepherd Carbon Capture and Storage (CCS) project. Spearheaded by SK Innovation, this initiative consolidates CO₂ from South Korean industries for transformation or storage in Malaysian facilities.
In addition to Hanwha Corp. and Shell Gas & Power Developments B.V., the consortium includes Korea National Oil Corp. and Air Liquide Korea, an affiliate of Air Liquide S.A., a leading industrial gas provider based in France.
The ambitious Shepherd CCS project aims to capture carbon dioxide emissions from South Korean industries, bring them together at designated locations in South Korea, and then transport them to storage facilities in Malaysia.
Once in Malaysia, the captured carbon is expected to be converted into valuable resources like methanol and formic acid, or it could potentially be utilized as a gaseous energy source.
The Shepherd project, which commenced in August of last year, initially involved a collaboration between a group of South Korean companies, including SK Energy Co., SK Earthon Co., Samsung Engineering Co., Samsung Heavy Industries Co., and Lotte Chemical Corp., along with Malaysia's state-run oil company, National Petroleum Ltd. (also known as Petronas).
With an overarching memorandum of understanding (MOU) in place, these entities are currently engaged in rigorous feasibility assessments to ensure the project's success.
Furthermore, they have identified at least one hub site in South Korea and one carbon storage facility in Malaysia. However, they are actively exploring additional domestic hubs and storage locations in Malaysia with an eye on achieving economies of scale.
As more companies join the project, the collective expertise and technological capabilities are expected to grow, enabling the initiative to capture more carbon sources and accelerate its progress.
The primary objective of the Shepherd project is to capture carbon dioxide emissions from industrial sites in South Korea, collecting them in local carbon capture plants before transporting them to Malaysia for onshore storage or offshore sequestration.
SK Innovation, the parent company of SK Energy and SK Earthon, has highlighted the significance of the Shepherd project as a comprehensive initiative covering the entire value chain of carbon capture and storage, making it a major undertaking in Asia.
By carefully selecting suitable locations for each stage, including the local capture plants in South Korea and the storage site in Malaysia, the participating companies are poised to propel this groundbreaking project forward.
Photo: Hanwha Newsroom
