OIL & GAS 
$KLSE-WASCO [%pgum%] [%rjDh%]
Research by HLIB
Overweight (Maintain) 

“Scaling the CCUS industry”

Under IEA’s NZE scenario, total scope 1 and 2 emissions from O&G operations decline by 60% between 2022 and 2030. One of the five levers to achieve the target is by deploying CCUS. Although operational CCUS projects would only be able to fulfil 25% of the required 1Gt CO2 p.a. to meet the NZE scenario, its deployment is set to gather pace as capture capacity is expected to jump 12-fold if all announced projects in the pipeline come to fruition by 2030. Malaysia is ideal to be developed into a regional CCUS hub due to its massive 2.4GT of potential storage capacity. Potential beneficiaries of CCUS deployment include MISC, MHB and Wasco.

Analyst(s):
Brian Chin 
[%YvxS%]

OIL & GAS 
$KLSE-WASCO $KLSE-MHB $KLSE-MISC
Research by HLIB
Overweight (Maintain) 

“Scaling the CCUS industry”

Under IEA’s NZE scenario, total scope 1 and 2 emissions from O&G operations decline by 60% between 2022 and 2030. One of the five levers to achieve the target is by deploying CCUS. Although operational CCUS projects would only be able to fulfil 25% of the required 1Gt CO2 p.a. to meet the NZE scenario, its deployment is set to gather pace as capture capacity is expected to jump 12-fold if all announced projects in the pipeline come to fruition by 2030. Malaysia is ideal to be developed into a regional CCUS hub due to its massive 2.4GT of potential storage capacity. Potential beneficiaries of CCUS deployment include MISC, MHB and Wasco.

Analyst(s):
Brian Chin 
brianchy@hlib.hongleong.com.my

$MHB / 5186 (MALAYSIA MARINE AND HEAVY ENGINEERING HOLDINGS BERHAD)