MOL and Petronas present concepts for the transport and storage of liquid CO2 Ship’s crew

Japanese shipping giant Mitsui OSK Lines (MOL) and Malaysia’s state-owned energy company Petronas have unveiled the results of their joint effort to transport and store liquefied carbon dioxide (CO2).

The duo, in collaboration with the Shanghai Merchant Ship Design & Research Institute (SDARI), developed and secured the basic approval for liquid CO2 tankers and a floating storage and offloading unit (FSO).

A 14,000-cubic-metre short-haul unit and a larger 87,000-cubic-metre vessel unveiled this week at the Kuala Lumpur Convention Center and designed for long-haul travel have been classified by DNV. Meanwhile, the American Bureau of Shipping (ABS) gave its approval for a 96,000 cubic meter FSO concept designed for interim storage and offshore offloading, and another 87,000 cubic meter freighter with installed Dynamic Positioning System designed for the long haul is -transport and offshore offloading.

The completion of the concept studies follows a memorandum of understanding signed by MOL and Petronas in February last year to search for optimal means of maritime transport of liquefied CO2 in the Asia-Pacific and Oceania regions. MOL said that obtaining class approvals paves the way for a flexible approach to transport needs, considering volume, transport distance and direct transport to FSOs near offshore storage facilities.

MOL entered the seaborne liquefied CO2 transport business in March 2021, investing in Larvik Shipping, which has been managing liquefied CO2 industrial vessels in Europe for over 30 years. Since then the company has been looking to develop larger vessels to meet the demands of this growing sector. The shipowner has also worked with Chevron to study the feasibility of shipping liquefied CO2 from Singapore to permanent storage locations off the coast of Australia.

Commenting on the new developments with Petronas, Nobuo Shiotsu, MOL’s Senior Managing Executive Officer, said: “The large-scale development is an essential step for the CCUS value chain in the Asia Pacific and Oceania region. With the newly acquired AiP, MOL Group will further accelerate this initiative in the carbon transport business to help reduce society’s overall greenhouse gas emissions.”

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