Japanese shipowner Mitsui O.S.K. Lines has partnered with Bahrain’s Bapco Energies to develop a cross-border carbon capture and storage (CSS) project.
Under the memorandum of understanding, the two companies will work towards establishing a CCS value, with MOL responsible for transporting the liquefied CO2 and VAPCO providing the isolation site.
The plan, unveiled in Dubai, outlines cooperation on CO2 separation, capture, transport, injection and storage. The study focuses on the potential market in the Asia-Pacific region and includes the estimated cost of carbon dioxide (CO2 acceptance cost at the receiving terminal and (including unit price). An example of transporting liquefied CO2 by ship.
Takeshi Hashimoto, President and CEO of Mitsui O.S.K. Lines, said: “We believe there are great synergies in our cooperation to build a CCS value chain and become a bridge between the Kingdom of Bahrain and the Asia-Pacific region.” .
Bapco recently completed a study confirming that Bahrain’s carbon storage capacity exceeds what is needed to meet net zero targets by 2060.
“This has opened up exciting opportunities, including the development of cross-border CO2 transport and storage. Mark Thomas, group CEO of Vapco Energy, added:
Mitsui O.S.K. Lines entered the liquefied CO2 marine transportation business in March 2021 by investing in Larvik Shipping, which has been managing industrial liquefied CO2 ships in Europe for more than 30 years. Since then, the company has been aiming to develop. large ship Promote the needs of this growing sector.Shipowners are also cooperating. chevron To study the feasibility of transporting liquefied CO2 from Singapore to permanent storage off the coast of Australia.
In June this year, Mitsui O.S.K. Lines and Malaysia’s national energy company Petronas presented the results of a joint effort aimed at transporting and storing liquefied CO2. The two companies collaborated with the Shanghai Merchant Marine Design and Research Institute (SDARI) to develop a liquefied CO2 carrier and a floating storage and offloading (FSO) unit and received in-principle approval. Just recently, Japan’s largest shipowner partnered with a fellow energy company. cosmo oil Explore opportunities for carbon transport.