Mitsui O.S.K. Lines (MOL) and Kansai Electric Power (KEPCO) have signed a service agreement to perform feasibility studies on the design of a liquefied CO2 carrier at shipyards in Japan and across the world.
The extensive study of the carbon dioxide capture and storage (CCS) value chain, which includes shipyards, is a pioneering initiative for other CO2-emitting industry operators.
The agreement comes after the completion of an initial joint study on liquefied CO2 transport based on a memorandum of understanding (MOU) between both parties, under which MOL and KEPCO have been jointly studying the optimal system for ocean transport and storage of liquefied CO2, focusing on CO2 emitted from KEPCO's thermal power plants to establish a CCS value chain.
Under the terms of the service agreement, the companies will perform research to determine the appropriate ship size for the CCS value chain to be built by KEPCO, with the goal of accomplishing ocean transport of liquefied CO2.
Through full-scale surveys and research targeted at the creation of liquefied CO2 vessels, which will play a vital role in the development of the CCS value chain, the firms will accelerate measures toward the achievement of a zero-carbon society.