Asia/Pacific News
NYK-Led Consortium to Explore CO2 Shipping Value Chain
An NYK-led consortium has signed an agreement to study the feasibility of transporting captured CO2 by sea and storing it offshore.
The group includes Nippon Yusen Kabushiki Kaisha (NYK), Knutsen NYK Carbon Carriers AS, and Petronas CCS Solutions, NYK said in a press release last week.
The study will focus on the use of the elevated pressure method to transport liquefied CO2 by ship, as well as temporary storage and offshore injection.
It will look at cross-border CCS opportunities in Southeast Asia, where Malaysia could play a role as a regional storage hub.
Knutsen NYK Carbon Carriers AS is a joint venture between NYK and Knutsen Group.
“Through this collaboration with PCCSS, NYK aims to contribute to the development of a cross-border CCS value chain in Malaysia, which has the potential to serve as a CCS hub, leveraging our track record of developing comprehensive logistics businesses in Japan and overseas,” Masaki Ono, General Manager at NYK’s Offshore Business Group, said.
