Nippon Yusen Kabushiki Kaisha (NYK) and its affiliate Knutsen NYK Carbon Carriers AS (KNCC) recently signed a memorandum of understanding (MoU) with PETRONAS CCS Solutions Sdn. Bhd. (PCCSS), a subsidiary of Petroliam Nasional Berhad (PETRONAS).

The MoU formalises the launch of a joint feasibility study to evaluate the technical and commercial viability of a carbon dioxide capture and storage (CCS) value chain based on the Elevated Pressure (EP) method.* The study will focus on cross-border liquefied carbon dioxide (LCO2) marine transportation and will also cover temporary storage and offshore injections into subsurface reservoirs.

Comments from NYK and KNCC

Masaki Ono, General Manager, Offshore Business Group, NYK

Through this collaboration with PCCSS, NYK aims to contribute to the development of a cross-border CCS value chain in Malaysia, which has the potential to serve as a CCS hub, leveraging our track record of developing comprehensive logistics businesses in Japan and overseas.

Anders Lepsoe, Chair of the Board, Knutsen NYK Carbon Carriers AS

This MoU represents a major milestone in our mission to enable safe, scalable, and efficient maritime LCO2 transport. We believe KNCC’s LCO2-EP technology — liquefaction, onshore storage, floating facilities, and shipping — is a game-changer for the CCS industry, allowing flexibility and low-cost options throughout the entire CCS value chain.
Source: Nippon Yusen Kabushiki Kaisha (NYK)