MOL, K-Line plan R&D on liquefied CO2 carriers

Japanese shipping firms MOL and K-Line plan to launch research and development (R&D) on the adoption of CO₂ carriers under a project initiated by Japan's New Energy and Industrial Technology Development Organisation (NEDO), they said on June 22.

Carbon capture, utilisation and storage (CCUS) is expected to play a key role in achieving carbon neutrality by 2050, K-Line said. The shipping firm said it was looking to reduce its greenhouse gas emissions in line with its Environmental Vision 2050, and that its work would on liquefied CO₂ marine transportation would contribute towards creating a carbon neutral society.

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In March this year, NEDO called for proposals for CCUS R&D and demonstration projects, including for CO₂ transportation. JCSS, the Engineering Advancement Association of Japan, Itochu Corp, and Nippon Steel Corp jointly applied and were selected for the demonstration project. JCCS in turn is to entrust MOL with R&D on large-scale CO₂ carriers. 

MOL entered the liquifed CO₂ ocean transport business by investing in Norway-based Larvik Shipping. The company said it will further accelerate its initiatives in the field through its role in the NEDO demonstration project as it aims to achieve group-wide net zero emissions by 2050.