JAPAN's Mitsui OSK Lines (MOL) is expected to invest in Norway-based Larvik Shipping while having an interest in carbon dioxide capture utilisation and storage (CCUS) and its importance in the global energy transition, reports London's Riviera Maritime Media.
CCUS is gaining attention as a technology to collect and store CO2, a step toward low-carbon initiatives across the globe.
CCUS targets a 15 per cent reduction in cumulative CO2 emissions by 2070. It's expected to reduce 6.9 billion tonnes per year.
Larvik Shipping is one of the few companies in the world qualified to operate liquefied CO2 vessels for food grade CO2, which is primarily used by hospitals, breweries and the food industry.
'Operation of liquefied CO2 vessels for food grade CO2 will be a continued focus for Larvik Shipping going forward,' said the company.
The company manages the 2005-built CO2 gas carrier Froya, which is owned by Nippon Gases Europe Ship. The vessel has a capacity of 1,770 tonnes of CO2.
MOL declared that the deal will allow the company to further expand its business.
'MOL will contribute to further expansion of the business by combining its accumulated expertise and technological capabilities. Both companies will discuss the adoption of larger ships with an eye toward expanding the CCUS value chain,' said MOL.
SeaNews Turkey
CCUS is gaining attention as a technology to collect and store CO2, a step toward low-carbon initiatives across the globe.
CCUS targets a 15 per cent reduction in cumulative CO2 emissions by 2070. It's expected to reduce 6.9 billion tonnes per year.
Larvik Shipping is one of the few companies in the world qualified to operate liquefied CO2 vessels for food grade CO2, which is primarily used by hospitals, breweries and the food industry.
'Operation of liquefied CO2 vessels for food grade CO2 will be a continued focus for Larvik Shipping going forward,' said the company.
The company manages the 2005-built CO2 gas carrier Froya, which is owned by Nippon Gases Europe Ship. The vessel has a capacity of 1,770 tonnes of CO2.
MOL declared that the deal will allow the company to further expand its business.
'MOL will contribute to further expansion of the business by combining its accumulated expertise and technological capabilities. Both companies will discuss the adoption of larger ships with an eye toward expanding the CCUS value chain,' said MOL.
SeaNews Turkey