Lithuania – AB Klaipedos nafta, Larvik Shipping and Mitsui O.S.K. Lines will start a feasibility study to develop liquefied CO2 (LCO2) loading facilities in Lithuania.
The facilities will be established at KN’s existing infrastructure in Klaipeda, Lithuania. The entire concept shall be to develop a LCO2 logistics and value chain from Lithuania and potentially Baltic region with Klaipeda seaport at the centre.
Carbon capture – promising field in Lithuania
The verified emissions from installations covered by the European Emissions Trading Scheme (ETS) in Lithuania alone reached roughly 6 million tonnes of CO2 in 2020, putting pressure on the local market to identify the best carbon management strategy. Carbon capture was listed as a promising field that requires further exploration in order to find the greatest feasible use in Lithuania in the Republic of Lithuania’s National Energy and Climate Action Plan for 2021-2030.
Insights of carbon management gained in the feasibility study may also help accelerate the clean hydrogen production from fossil fuels. KN recognizes the importance and synergy of hydrogen and carbon markets and during 2020 participated in the formation of the Lithuanian Hydrogen Platform – a platform that brings industry and government together in the joint decarbonization effort.
Reaching zero emission
The main task of the feasibility study will be to identify optimized design and configuration to export CO2 to one or more sequestration facilities within Europe. It also includes the possibility to produce blue hydrogen as an important and necessary solution to reach zero emission economy.
Within the scope of the project, KN covers the onshore and terminal handling parts. LS accepted equity from MOL and both firms are now working closely to accelerate LCO2 business. LS and MOL contribute to the development of an effective and feasible marine logistics solution. The parties seek to cover the key logistics component of the whole CCUS value chain with the above combination.