Singapore's Energy Market Authority (EMA) will co-fund selected carbon capture and storage (CCS) feasibility storage studies proposed by power generation companies and energy firms to help achieve the city-state's net zero emissions target by 2050.

The EMA said in a statement on Monday it aims to study two CCS pathways - post-combustion carbon capture for combined-cycle gas turbines (CCGTs) and pre-combustion carbon capture to produce hydrogen for power generation. The agency, however, did not provide a value for the grant.

Post-combustion carbon capture refers to the installation of an onsite unit to capture carbon dioxide from waste gas produced during the combustion of natural gas in CCGTs.

Pre-combustion carbon capture refers to the installation of an onsite unit to capture carbon dioxide generated during the production of hydrogen from natural gas.

The Singapore government is also developing a CCS project to aggregate carbon dioxide emissions on Jurong Island for overseas storage, with Phase 1 likely to start around 2030.