A CONSORTIUM of energy companies commissioned NYK to conduct a study on the marine transportation of liquefied carbon dioxide.
The consortium comprises Japanese petroleum firm Eneos Corporation, power utility Electric Power Development Company (J-Power) and oil company JX Nippon Oil and Gas Exploration.
The companies initiated the carbon dioxide transport study as part of a feasibility study on carbon dioxide capture and storage technologies.
NYK is to study the economics and feasibility of the technology. The project aims to transport, by ship, carbon dioxide emitted in western Japan from Eneos refineries and J-Power thermal power plants to a place where it can be injected underground.
The consortium aims to start implementing a large-scale value chain from carbon dioxide separation and capture to transportation and storage by the 2030 financial year.
In 2022, NYK established Knutsen NYK Carbon Carriers (KNCC), a joint venture with Norway’s Knutsen Group.
The initiative aims to develop and market new businesses related to the marine transportation and storage of liquefied carbon dioxide.
