Japanese engineering company Chiyoda Corporation, compatriot shipping major Nippon Yusen Kabushiki Kaisha (NYK Line), and its Norway-headquartered affiliate Knutsen NYK Carbon Carriers (KNCC) have signed a memorandum of understanding (MOU) to collaborate on carbon capture and storage (CCS) projects globally.
The tripartite partnership will be focused on expanding business opportunities for CCS projects in Japan and overseas, including optimizing transportation methods, as well as exploring potential collaboration at each stage of project development, including concept studies, feasibility studies, basic engineering (pre-FEED/FEED), and engineering, procurement and construction (EPC).
Chiyoda will study onshore terminals, including CO2 capture, liquefaction, and temporary storage, and compliance with relevant laws and regulations for onshore terminals, and NYK Line will study liquefied CO2 (LCO2) marine transportation using low pressure (LP), medium pressure (MP), and elevated pressure (EP) modes and will be the project coordinator.
Furthermore, KNCC will study LCO2 marine transportation and offshore direct injection using LP, MP, and EP modes, as well as floating solutions for liquefaction, temporary storage, and injection.
The three companies in 2024 jointly conducted a study on the quantitative evaluation of costs and schedules across the entire value chain for three LCO2 technology options – EP, MP, and LP – and on the challenges associated with their social implementation.
According to the partners, the technologies and insights gained through this study will enable them to conduct value chain studies tailored to individual CCS operator projects in the future.