Malaysia introduces tax incentives in boost for CCS

Time for that backyard calcium carbonate generator.

Dateline 2022-10-10, Energy Voice:

Malaysia’s 2023 budget announced on Friday introduces a raft of tax incentives for carbon capture and storage (CCS) as the country aims to become a regional hub for the nascent sector.

The news will be welcomed by Malaysia’s national energy company Petronas which is pushing hard to develop the nation’s CCS industry and attract overseas partners. Malaysia has already embarked on aggressive plans to promote CCS in Southeast Asia with the goal of developing natural gas fields with high contaminant levels and decarbonising its economy simultaneously.

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