Kawasaki Kisen Kaisha (“K” LINE) and Nippon Gas Line announced the agreement to establish a marketing company for the purpose of providing the seamless and efficient integrated liquefied CO2 transportation service for carbon dioxide capture and storage (CCS) projects over the boundaries.
As explained, they plan to support the research and business development to scale up the CCS value chain at the same time to cost reduction by introducing hub and cluster structure. In relation to its development, cross-border CO2 transportation and the establishment of integrated transportation system by combination of various sized liquefied CO2 carriers has been studied.
“K” LINE group is promoting a variety of initiatives to support the low-carbon and carbon-free of its own operations and society in accordance with its long-term environmental policy, “K” LINE Environmental Vision 2050.
Regarding CCS projects in particular, Nippon Gas Line is undertaking operation and ship management of a liquefied CO2 carrier and developing operation and cargo handling technology for low-temperature and low-pressure liquefied CO2.
“K” LINE and Nippon Gas Line determined to take initiatives in liquefied CO2 shipping for CCS projects. This collaboration of both companies will provide safe, stable and high-quality liquefied CO2 seamless transportation services by leveraging knowledge and experience together. Both companies will contribute to the realization of a carbon-neutral society through CO2 shipping.
To remind, in February 2024, Northern Lights JV DA and Kawasaki Kisen Kaisha, Ltd. (K LINE) signed Bare Boat Charter and Time Charter contracts for the management of the third CO2 ship.