Japanese shipowner Mitsui OSK Lines has teamed up with Bahrain’s Bapco Energies to develop a cross-border carbon capture and storage project.
The two companies inked a memorandum of understanding to set up a CCS value chain under which MOL would ship liquefied CO2 and Bapco provide the sequestration sites.
The partners laid out their plans for the separation, capture, transport, injection and storage of CO2 after a signing ceremony in Dubai.
Under the MOU, they plan to study the estimated cost of the permanent CO2 storage which would be owned and operated by Bapco Energies in Bahrain.
This would include the receiving cost at the CO2 receiving terminal and the unit cost of LCO2 transportation by ship.
The pair also plan to study potential markets in the Asia-Pacific region.
MOL has been working with companies in Japan and Malaysia on liquefied CO2 (LCO2) carrier designs.
MOL president and chief executive Takeshi Hashimoto said: “We believe there is a significant synergy in our cooperation to create a CCS value chain, also to become a bridge between the Kingdom of Bahrain and Asia-Pacific regions.”
Bapco Energies group chief executive Mark Thomas said: “We have recently concluded a study confirming that the Kingdom of Bahrain’s CO2 storage capacity exceeds its needs to meet its net-zero target by 2060.
“This opened exciting opportunities for us, including the development of cross-border CO2 transportation and storage. This collaboration with MOL underscores our unwavering dedication to achieving a low-carbon future in line with the Kingdom of Bahrain's climate targets.”
