Japanese shipowner Nippon Yusen Kabushiki Kaisha (NYK) and its affiliate Knutsen NYK Carbon Carriers AS (KNCC) have signed a memorandum of understanding (MoU) with compatriot oil and gas firm JX Nippon Oil & Gas Exploration Corporation to study the optimization of carbon dioxide (CO2) liquefaction and storage processes using KNCC’s technology cargo tank cylinders (CTC).
As explained, this study aims to optimize the CO2 transportation system using CTC by using the characteristics of the elevated pressure (EP) method, which stores and transports liquefied CO2 at higher temperatures and pressures than the low pressure (LP) and medium pressure (MP) methods.
Under the MoU, JX will provide knowledge and process validation related to CCUS projects, while NYK will give formulation of overall policy and evaluation of the feasibility and appropriateness of the project.
Meanwhile, KNCC will share technical and legal knowledge on liquefied CO2 carriers, as well as the implementation of liquefaction process verification of EP method.
The three companies will conduct optimization verification by the latter half of 2024 using CTC’s demonstration facility “test rig” owned by KNCC in Norway. Based on the verification results, the partners will study the possibility of social implementation in concrete terms.
According to the partners, this study is expected to solve the problems in the CCUS value chain, such as capital investment, energy consumption, and environmental impact.
JX recently teamed up with Chevron New Energies, part of energy corporation Chevron U.S.A., to evaluate the export of carbon dioxide from Japan to carbon capture and storage (CCS) projects located in Australia and other countries in the Asia Pacific region.