KUALA LUMPUR, Sept 25 – Malaysia plans to introduce a robust regulatory framework in parliament by November with the aim of establishing Malaysia as a global carbon capture, utilisation and storage (CCUS) hub, said Minister of Economy Mohd Rafizi Ramli.
He said Malaysia is at a “sweet spot” and that time has come for Malaysia to leapfrog and position itself as a CCUS leader as it has the experience and advantage, with a market fit for it.
“And given that Asia alone will make up 50 per cent of global CCUS demand in 2050, Malaysia has taken swift action to capitalise on our inherent technical capabilities and region-leading storage sites.
“I hope the (bill) that we will table in November will speed up all components of the CCUS industry to come together to position Malaysia as a regional and global leader in CCUS,” he said in the keynote address and official opening of the 20th edition of the Oil and Gas Asia (OGA) 2024.
