Japanese shipping giant Mitsui OSK Lines (MOL) and Malaysia’s state energy firm Petronas have showcased the results of their joint efforts aimed at shipping and storing liquified carbon dioxide (CO2).
The duo, in collaboration with Shanghai Merchant Ship Design & Research Institute (SDARI), has developed and secured approval in principle for liquefied CO2 carriers and a floating storage and offloading (FSO) unit.
Presented at the Kuala Lumpur Convention Centre this week, a 14,000 cu m short-haul unit and a larger 87,000 cu m vessel designed for long-haul voyages were classed by DNV. Meanwhile, the American Bureau of Shipping (ABS) gave its stamp of approval for a 96,000 cu m FSO concept developed for intermediate storage and offloading offshore, as well as for another 87,000 cu m carrier with an installed dynamic positioning system that is intended for long-haul transportation and offshore offloading.
The completion of concept studies follows a memorandum of understanding signed by MOL and Petronas in February last year to seek optimum means of ocean transport for liquified CO2 within the Asia Pacific and Oceania regions. MOL said that gaining class approvals clears the way toward a flexible approach to transport needs in consideration of volume, transport distance, and direct transport to FSOs near offshore storage facilities.
MOL entered the business of transporting liquefied CO2 by sea in March 2021, when it invested in Larvik Shipping, which has managed industrial liquefied CO2 vessels in Europe for over 30 years. Since then, the company has been looking to develop larger ships to facilitate the needs of this growing sector. The shipowner has also teamed up with Chevron to study the feasibility of transporting liquified CO2 from Singapore to permanent storage locations offshore Australia.
Commenting on the new developments with Petronas, MOL’s senior managing executive officer, Nobuo Shiotsu, said: “Development on a large scale is an essential step for the CCUS value chain within the Asia Pacific and Oceania region. Through the newly acquired AiP, the MOL Group will further accelerate this initiative on the CO2 transport business to contribute to reducing society’s overall GHG emissions.”
