Mitsui O.S.K. Lines has been selected by Northern Lights JV DA, which operates the world’s first cross-border CO2 transport and storage project, as the owner of two newly built 12,000m3 Ice Class LNG dual-fuel liquefied CO2 carriers for its business expansion.
On January 29, MOL concluded shipbuilding contracts with HD Hyundai Heavy Industries Co., Ltd. and long-term charter contracts with Northern Lights. Starting around 2028, the vessels will transport CO2 collected across Europe to a receiving terminal in Norway.
Carbon Capture and Storage (CCS) solution, which separates and captures CO2 and stores it stably deep underground, is an important pathway to realize decarbonized society. Liquefied CO2 shipping plays a critical role in efficiently connecting capture sites with storage sites in the CCS value chain.
Northern Lights transports CO2 collected across Europe by ship to the Øygarden terminal on Norway’s west coast, from where the CO2 is exported via a 100-kilometer subsea pipeline and permanently stored about 2,600 meters beneath the seabed of the North Sea. This is the world’s first cross-border CO2 transport and storage project. Northern Lights began full-scale operations in 2025, with a transport and storage capacity of 1.5 million tons of CO2 per year and plans to expand its capacity to a minimum of 5 million tons annually by 2028.
In hard-to-abate industrial sectors, the volume of CO2 captured, transported by ship, and stored is expected to increase significantly. With a proven global share and track record in liquefied gas shipping, particularly in LNG carriers, MOL group continues to strengthen its capabilities in liquefied CO2 shipping.
In 2021, MOL invested in Larvik Shipping AS, a Norwegian ship management company with over 35 years of experience in liquefied CO2 shipping in Europe and have continued to actively engage in this business. MOL is committed to meeting the growing demand for liquefied CO2 shipping and contributing to the development of the CCS value chain as a trusted partner.
