Japanese owners K Line and Nippon Gas Line (NGL) have signed a cooperation deal for the shipping of captured CO2.
The two companies will jointly market “a seamless and efficient integrated liquefied CO2 transportation service” for carbon capture and storage (CCS) projects, they said.
The partners noted that the Japanese government intends to have CCS projects up and running by 2030.
K Line and NGL, an owner of 10 LPG carriers, plan to support research and business development to scale these up.
The projects will involve shipping CO2 across national borders, using various carriers of various sizes, the partners said.
The Japanese owner has established a specialised team, K Line LNG Shipping (UK), based in London, to manage the liquefied CO2 carriers.
NGL is the only Japanese operator specialising in domestic LPG carriers, the companies claimed.
The owner has “accumulated extensive knowledge and experience in the operation, cargo handling and ship management of pressurised gas carriers for over 60 years”, they said.
K Line is already working with the Northern Lights venture set up by Shell, TotalEnergies and Equinor to ship CO2.
In February, the shipowner signed up to operate its third CO2 carrier for the group.
Bareboat and time-charter terms were agreed to manage the 7,500-cbm newbuilding due for delivery in 2025.
K Line will run the first two ships ordered by Northern Lights, while Germany’s Bernhard Schulte contracted a fourth vessel backed by a long-term charter.
The ships will carry liquefied CO2 from clients based in Norway, Denmark and the Netherlands to Northern Lights’ receiving terminal in Oygarden, Norway.
The CO2 will then be injected into the offshore reservoir for safe and permanent storage.
