Oslo-listed investment firm Hunter Group has joined forces with class society DNV to develop a low-pressure midstream shipping solution for carbon capture and storage.
The parties have agreed to work together on a 40,000 to 70,000 cu m liquified CO2 carrier with 20,000 to 30,000 cu m feeder vessels to be operated on the Norwegian Continental Shelf and European waters.
Both technological and operational measures will be assessed, as well as hull and cargo tank designs. Alternative fuels such as ammonia, methanol, fuel cells and CO2 abatement technologies will also be evaluated as part of the project.
Hunter, which sold its entire fleet of four very large crude carriers (VLCCs) for $383m last year, said a large portion of the captured CO2 will involve seaborne transportation, which will require a substantial number of large CO2 carriers. “While short-term goals can be achieved by currently available technology, intermediate and long-term sustainable solutions require further study and need to be developed,” the company said in a release.
Commenting on the partnership, Hunter Group’s chief executive Erik Frydendal, said: “We are looking forward to working closely with the highly competent people at DNV, a world-leading classification society and the only one with CO2 transportation experience, to develop a shipping solution that will contribute to dramatically to reduce GHG Emissions and hopefully get us closer to reaching the goals of Net Zero by 2050.”
