United Kingdom – SK Earthon and Azuli International (Azuli) have signed a Memorandum of Understanding that establishes the basis for the two firms to collaborate globally to find and develop carbon capture and storage (CCS) enabled solutions.
The MOU is the first step towards forging a worldwide strategic alliance between the two businesses. Together, SK Earthon and Azuli want to find and develop projects that are technically sound and economically feasible that would allow industrial scale CO2 emissions to be transferred (by pipeline or ship) for permanent sequestration in geological formations.
Net Zero goals
The two businesses will initially look for CCS business prospects in Australia and the US, which have developed CCS-related legal systems. After that, the parties will broaden their search to include CCS business potential in other countries, such as Korea.
A key component of the energy transition is CCS, which has the potential to enable industrial decarbonization on a large scale and help the world community reach its Net Zero goals. By employing its knowledge and distinctive investigation, SK Earthon seeks to advance the Green Transformation agenda, attain carbon-neutrality through CCS business, and maybe serve as an Asia Pacific solution for Korean emissions.
