Chiyoda Corporation, Nippon Yusen Kabushiki Kaisha, and its affiliate Knutsen NYK Carbon Carriers AS are pleased to announce that they have signed a memorandum of understanding (MOU) to collaborate on global projects in the field of carbon capture and storage (CCS).
Under this MOU, the three companies will work together to expand CCS business opportunities for CCS projects in Japan and overseas, including optimizing transportation methods. The three companies will also explore potential collaboration at each stage of project development, including concept studies, feasibility studies (FS), basic engineering (Pre-FEED/FEED), and engineering, procurement and construction (EPC).
In 2024, the three companies jointly conducted a study on the quantitative evaluation of costs and schedules across the entire value chain for three liquefied CO2 (LCO2) technology options — elevated pressure (EP), medium pressure (MP), and low pressure (LP) — and on the challenges associated with their social implementation. By leveraging the technologies and insights gained through this study and combining their respective strengths, the parties will be able to conduct value chain studies tailored to individual CCS operator projects in the future.
Through this collaboration, the three companies aim to develop and commercialize viable CCS projects, contributing to the realization of CCS value chains and a global decarbonized society.
