MOL and Cosmo Oil sign MoU to study ocean transport
MOL and Cosmo Oil will accelerate the CCS value chain project
Mitsui O.S.K. Lines, Ltd. and Cosmo Oil Co., Ltd. have announced the signing of a memorandum of understanding (MoU) on the study of ocean transport, with the goal of establishing a carbon dioxide capture and storage (CCS) value chain.
CCS is regarded as one of the most effective solutions to realize a low-carbon/decarbonized society. MOL and Cosmo Oil will collaborate on the establishment of a "CCS value chain consisting of separation, capture, transport, injection and storage" of CO₂ emitted from Cosmo Oil's refineries (emission sources), and conduct the following studies.
MOL and Cosmo Oil will accelerate this CCS value chain project through the MoU, and contribute to the realization of a low-carbon society.
The MOL Group Vision is to develop a variety of social infrastructure businesses in addition to traditional shipping, and will meet evolving social needs, including environmental conservation, with innovative technology and services.