Japanese engineering company Chiyoda Corporation, compatriot shipping major Nippon Yusen Kabushiki Kaisha (NYK Line), and its Norway-headquartered affiliate Knutsen NYK Carbon Carriers (KNCC) have signed a memorandum of understanding (MOU) to collaborate on carbon capture and storage (CCS) projects globally.
The tripartite partnership will be focused on expanding business opportunities for CCS projects in Japan and overseas, including optimizing transportation methods, as well as exploring potential collaboration at each stage of project development, including concept studies, feasibility studies, basic engineering (pre-FEED/FEED), and engineering, procurement and construction (EPC).