NYK, Knutsen form CO2 transport company

NYK and the Knutsen Group of Norway have established a joint venture company for the commercial development of a liquefied CO2 marine transportation and storage business worldwide.

NYK and Knutsen will each hold a 50 per cent stake in the new company, which has been named Knutsen NYK Carbon Carriers (KNCC). KNCC will also build and operate low/mid pressure vessels based on other technologies.

The new company will be headquartered in Haugesund, Norway. It will use Knutsen’s proprietary technology that allows transport of liquified CO2 at ambient temperatures.