New company for transportation and storage of liquefied CO2 established


Norway NYK and the Norwegian Knutsen Group have formed a joint venture company to develop a global liquefied CO2 marine transportation and storage business based on the Knutsen-developed PCO2 technology, which allows for the transport of liquified CO2 at ambient temperatures.

NYK and the Knutsen Group will each own 50% of the new company, which will be known as Knutsen NYK Carbon Carriers AS (KNCC). In addition, KNCC will construct and operate low/mid pressure vessels based on other technologies.

CCUS for carbon-neutral society

Carbon capture, utilization, and storage (CCUS) is a powerful and necessary concept for achieving a carbon-neutral society. Liquefied CO2 carriers play an important role in this value chain by transporting liquefied CO2 to the sites where it is stored and/or used. The demand for liquefied CO2 carriers is expected to skyrocket in the coming years.

KNCC will offer customers a one-of-a-kind expertise in advanced transport, including liquefied CO2 loading and offloading onshore and offshore.