Mitsui & Co stock advances Malaysia offshore CCS project

Published on 11/02/2026 at 09:08 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Mitsui & Co stock is tied to a new Malaysia carbon-storage venture with PETRONAS and TotalEnergies. First injection is targeted for 2031.

Malaysia CCS venture sets next steps

Mitsui, PETRONAS and TotalEnergies are preparing an offshore carbon-storage venture in Malaysia.
The first phase targets a depleted gas field and an injection capacity of up to five million tonnes per year.
The partners are advancing the project toward a final investment decision.

Mitsui-Soko, JP3893600001, Illustration mit AI erstellt.

PETRONAS, TotalEnergies and Mitsui & Co. signed a joint venture agreement on Friday, October 23, to develop offshore carbon-dioxide storage areas off Peninsular Malaysia. The project is part of Malaysia's Southern Carbon Capture and Storage Hub, according to The Star.

Project advances toward investment decision

The agreement creates a framework for a dedicated joint venture company that will develop, commercialize and operate the storage areas. The first phase primarily targets a depleted gas field offshore Peninsular Malaysia with expected injection capacity of up to five million tonnes of carbon dioxide per year.

The partners are targeting first injection as early as 2031, subject to industry readiness. The project follows a carbon-storage development agreement signed in 2023, which covered development studies and technical evaluations of possible storage sites. In 2025, the companies signed a Key Principles Agreement to advance front-end engineering and design activities and establish the joint venture structure.

PCCSV chief executive Emry Hisham Yusoff said the partners would now advance the project's technical and commercial development ahead of a final investment decision. The Southern CCS Hub is intended to receive carbon dioxide from domestic and regional sources, including potential cross-border shipments.

Mitsui brings commercial and logistics expertise

The project gives Mitsui a role in a regional decarbonization infrastructure initiative while the development remains ahead of the final investment decision. PETRONAS contributes subsurface and project-management expertise, TotalEnergies brings global carbon-capture and storage experience, and Mitsui contributes commercial development, investment and logistics capabilities.

Mitsui & Co stock traded at 27.92 euros on Lang & Schwarz at 09:06 CET on Monday, November 2, 2026. Investors will next focus on the project's progress toward the investment decision and on Mitsui's six-month results, scheduled for Wednesday, November 4, 2026.

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