Chiyoda, NYK, and KNCC explore the feasibility of CCUS value chain
Japanese engineering company Chiyoda Corporation, compatriot shipping major Nippon Yusen Kabushiki Kaisha (NYK), and its affiliate Knutsen NYK Carbon Carriers AS (KNCC) have conducted a joint study to quantitatively evaluate and verify the feasibility of the carbon capture, utilization, and storage (CCUS) value chain.
The value chain includes liquefaction, temporary storage, and marine transportation of carbon dioxide.
As informed, the study covered the three methods of elevated pressure (EP), medium pressure (MP), and low pressure (LP), which are assumed to be the technologies for CCUS.
Going forward, the three companies will combine their engineering and shipping expertise to promote technical and economic studies of the three methods further and contribute to the social implementation of CCUS.
Many CCUS projects are currently being planned worldwide, and several CCUS projects are expected to be launched in Japan in the late 2020s and beyond. In those projects, the prolonged construction period for installing large tanks on land will likely become a significant issue.
The MP and LP methods assume the installation of Type-C tanks on liquefied CO2 carriers and large tanks at onshore storage facilities as the primary method. On the other hand, the EP method assumes the utilization of cylinder tanks, which are based on the manufacturing principle of existing pipelines, not only for liquefied CO2 carriers but also for onshore storage facilities.
In this joint study, the three companies confirmed that using these cylinder tanks for onshore storage facilities will lead to a significant reduction in the construction period, effective use of land, reduction of investment and operating costs, and improvement of energy efficiency required for operation.
The three companies will present details of their findings in March at an event hosted by the Global CCS Institute (GCCSI), an international think tank on CCUS.