Petronas CCS Ventures, part of Malaysia’s state-owned energy giant Petronas, compatriot shipowner MISC Berhad and Japanese shipping company Mitsui O.S.K. Lines (MOL) have incorporated a strategic joint venture to develop and acquire liquefied carbon dioxide (LCO2) carriers.

The JV, Jules Nautica, will lead the development and act as the ultimate owner of LCO₂ carriers, which are critical for transporting LCO₂ to designated storage sites as part of advancing carbon capture and storage (CCS) solutions.