Kelington Group (KLSE:KGB) unit Ace Gases Marketing signed a memorandum of understanding with PETRONAS CCS Solutions to jointly study carbon capture opportunities.

The study will assess the feasibility and commercial viability of carbon dioxide logistics and facilities using Ace Gases' expertise, according to a Thursday Malaysian bourse filing.

The MoU will be valid for one year, and can be extended by another year by mutual agreement.

The move supports Malaysia's net-zero target by 2050, with the country's carbon dioxide emissions reaching nearly 289 million tonnes in 2023, it said.