K Line, Japan Gas Line to develop LCO2 marine transportation

Japanese shipping companies K Line and Japan Gas Line on March 29 announced a strategic partnership to establish a joint venture company aimed at proposing domestic and international liquefied CO2 marine transportation solutions. 

K Line is slated to commence the transportation of liquefied CO2 for Northern Lights, a CCS (Carbon Capture and Storage) joint venture comprising Shell, Equinor, and TotalEnergies, later this year. Earlier in the year, Northern Lights entered into a time charter agreement with K Line for the third LNG-powered CO2 carrier.

This latest agreement builds upon previously signed contracts for the first two liquefied CO2 ships within the four-ship fleet of Northern Lights, all set to be delivered in 2024. K Line's London-based subsidiary, K Line LNG Shipping, will oversee the management of these three vessels.

The Northern Lights joint venture aims to develop the world's first open-source CO2 transport and storage infrastructure in Norway. The project is designed to contribute to the decarbonisation of industrial emissions and support the removal of CO2 from the atmosphere.