Livanos bets on carbon capture with 60-ship fleet

Greek shipowner Peter Livanos is backing a new player in the carbon capture, utilisation and storage (CCUS) arena, EcoLog, that plans to become a leading global midstream business with a virtual pipeline of 60 ships, along with associated import and export terminals, to transport 50m tons of CO2 a year by 2035.

Specifically, the new enterprise is part of Ceres Shipping, whose interests span the liquified natural gas and dry bulk transportation sectors through GasLog and DryLog, respectively. “We believe EcoLog will help accelerate the urgently required adoption of CCUS by offering midstream services at scale and at speed,” Ceres Shipping said.

According to EcoLog, its ships will be on a scale ranging from 20,000 cu m at the smaller end for regional trades and 85,000 cu m in cargo carrying capacity for longer distance trades, and each will transport over 1m tons of CO2 per year between its import and export terminals. “The ships and terminals will operate at 8 bar pressure to ensure efficient and safe transportation of large volumes of CO2. All the technologies to be deployed within this network have been established for many years, simply reconfigured for scale and product,” the company added.

Jasper Heikens, the chief commercial officer of EcoLog, commented: “EcoLog is an exciting and timely venture ready to create low cost, large scale and at speed solutions for emitters to transport and permanently store CO2 emissions. The global challenge to sequester 7.6 gigatons of CO2 by 2050 to stay within 1.5-degree global warming (IEA figures) is clear and we are putting in place the infrastructure to make that happen.”

Adis Ajdin

Adis is an experienced news reporter with a background in finance, media and education. He has written across the spectrum of offshore energy and ocean industries for many years and is a member of International Federation of Journalists. Previously he had written for Navingo media group titles including Offshore Energy, Subsea World News and Marine Energy.


    An Elephant-without-feet, Scrubber-type project by hair-brained Executives? A high-risk, high-cost uncertainty project on a premature venture? Remarks prior to a “harum-scarum” go-ahead order by Livanos:
    > Current CC plants capacity 40 mtpa (excl. undeveloped cap.). In contrast, world emissions: 38 billion tpa). CC part: 1/1000.
    > Temporary and permanent storage (onshore/offshore by Piping/Shipment) to locations is undeveloped worldwide.
    > Currently there is no Sink-Source pairing (CO2 emitters matching reservoirs). Shared networks are needed for reduced costs.
    > High uncertainty on CCS cost. The Northern Lights Project presents Cost-relative uncertainty of 30%.
    > Feasible reservoirs for sea transport are mostly restricted in N. Sea (Europe projects) and offshore Japan. Feasible WW regional storage locations are mostly onshore with piping transportation.
    > Northern Lights CC capacity is 1.5 Mtpa from two industrial plants to be shipped to temporary onshore storage. Permanent storage in N.Sea by offshore Pipeline. Targeted upscale from Europe CC hubs 5 Mtpa, a long way to go.
    > Legislative Barriers to CO2 shipping: London Protocol forbidding cross-border CO2 transport and EU ETS Directive, precluding same from ETS financial incentives.

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