Collectively known as the Low Carbon Technology Industry Consortium (LCT-IC), the parties will explore, through the advancement of technology, to accelerate the development of cost-effective carbon capture, utilization and sequestration (CCUS) as well as the production, transportation, distribution and utilization of lower carbon hydrogen and its derivatives at scale, with the aim of commercializing new lower carbon technology pathways in Singapore.
According to Keppel, under the MoU, the LCT-IC members will seek to partner, exchange ideas, share technical insights and develop lower carbon research, development and demonstration, guided by the framework that includes research in lower carbon technology, technology translation and scalable solutions.
Law Tat Win, Chevron Singapore Country Chairman, on behalf of the LCT-IC, stated: “Partnerships are critical to advance energy transition. This MoU includes partners from diverse industries but with a shared goal of promoting a vibrant ecosystem that enables technological advancements to thrive and create scalable and affordable lower carbon value chains that industry will adopt. LCT-IC industry partners and I are excited with what this next phase of collaboration may bring, as we transition towards a lower carbon energy future.”
To note, the MoU, which welcomed Air Liquide Singapore, Osaka Gas Singapore and Pavilion Energy as new members of the LCT-IC, is an extension of a previous MoU signed in July 2020, which aimed to accelerate the development of integrated and energy-efficient CCUS systems that lead to industrially scalable solutions and a lower carbon economy for Singapore.
