MOL, Petronas to jointly study marine LCO2 transport opportunities

Mitsui OSK Lines (MOL) has entered into a memorandum of understanding (MoU) with Malaysian state-owned energy company Petronas to study a possible liquefied CO2 (LCO2) transportation business required for a carbon capture, utilisation and storage (CCUS) value chain.

The study will be for LCO2 transport within the Asia-Pacific and Oceania. MOL’s role will include studying specifications of LCO2 tankers from the standpoint of the entire CCUS value chain with the aim of establishing the optimal means of ocean transport for captured CO2.

In addition, Norway-based Larvik Shipping, which is partly owned by MOL and has managed LCO2 tankers for over 30 years, will also join the study and contribute its know-how on the safe transport of LCO2.