Japan – Nippon Yusen Kabushiki Kaisha (NYK Line) and Mitsubishi Shipbuilding have agreed to collaborate on the development of a large-scale liquefied CO2 (LCO2) carrier.
This project will combine Mitsubishi Shipbuilding’s advanced gas handling technologies accumulated through the construction of liquified gas carriers (LPG and LNG carriers) with NYK Line’s wealth of knowledge in operations of not only small and medium-sized vessels, but also large vessels, which are expected to increase in demand globally, to facilitate the development of technologies for transporting CO2 using large vessels. Based on the development of LCO2 carriers, the two companies will participate in the CCUS value chain.
Carbon dioxide capture, utilization, and storage (CCUS) is gaining popularity as a viable means of achieving a carbon-neutral world. LCO2 carriers will play an important role in that value chain by transporting liquified CO2 to storage and utilization sites, and demand for these vessels is expected to rise in the future.
Mitsubishi Shipbuilding is actively pursuing the commercialization of LCO2 carriers as part of the MHI Group’s strategic initiative for the energy transition, bringing together technologies and knowledge gained from the construction of liquified gas carriers in an effort to support decarbonization at sea as a marine systems integrator. This collaborative project is expected to contribute significantly to the establishment of a CO2 ecosystem(Note) in the CO2 transport sector, which will be an essential component of the CCUS value chain.
NYK Line anticipates that the development of CO2 transport technology using large-scale LCO2 carriers will make a significant contribution to the realization of a carbon-neutral world. NYK Line will integrate its accumulated wealth of knowledge in ship operations to support the early realization of not only small and medium-sized vessels, but also large-scale LCO2 carriers through this joint project with MHI Group, which possesses a wide range of technologies to overcome the high technological hurdles in the CCUS value chain. NYK Line will participate in the CCUS value chain as a result of this project.
Moving forward, Mitsubishi Shipbuilding and NYK Line will work together to develop the technologies for LCO2 carriers required to establish a CCUS value chain, leveraging the companies’ complementary strengths and knowledge to contribute to the realization of a carbon-neutral world.