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Chiyoda Corporation, Nippon Yusen Kabushiki Kaisha (NYK Line) and Knutsen NYK Carbon Carriers (KNCC) signed a memorandum of understanding to collaborate on global carbon capture and storage projects. carbon capture and storage (CCS) PROJECTS.
The agreement seeks to expand business opportunities in Japan and other international markets, with a special focus on the optimization of CO2 transport. CO2 transport. The three companies will work together in all stages of project development, from conceptual studies to engineering, procurement and construction.
The collaboration also includes key activities such as feasibility studies, basic design (Pre-FEED and FEED) and EPC execution, consolidating a comprehensive approach to the CCS value chain.
On carbon transport and storage
In terms of responsibilities, Chiyoda will focus on onshore terminal development, includingCO2 capture, liquefaction and temporary storage, as well as regulatory compliance.
NYK Line will lead the analysis of the maritime transport of liquefiedCO2 (LCO2), evaluating different operating conditions such as low, medium and high pressure. It will also assume the overall coordination of the projects.
Meanwhile, KNCC will contribute its technology in offshore solutions, including marine transport and direct offshore injection, as well as floating systems for liquefaction and storage.
Next steps
It is worth noting that the three companies had already collaborated in 2024 on a joint cost and schedule study across the CCS value chain. This analysis evaluated different liquefiedCO2 technologies and the challenges associated with their large-scale implementation.
Based on these results, the companies seek to develop technically feasible projects tailored to the needs of each operator, strengthening the global carbon capture infrastructure.
Source and photo: NYK Line