Yinson Production and “K" Line Energy Shipping (UK) (KLES), a London-based subsidiary of Kawasaki Kisen Kaisha ("K" LINE), have entered into an agreement to jointly develop and market solutions for the transportation and injection of liquefied CO2.
Under the memorandum of understanding (MoU), Yinson Production and KLES will jointly develop and market a floating storage and injection unit (FSIU) and a liquefied CO2 carrier.
The collaboration will target carbon capture and storage (CCS) projects being developed mainly in Europe.
For CCS projects worldwide, offshore sequestration is a safe and efficient way of permanently storing large volumes of CO2. FSIUs are well suited to serve as a solution for offshore CCS projects where it is difficult to secure sufficient land for an onshore CO2 receiving terminal, or where the distance between a receiving terminal and the offshore storage site would require an extended pipeline.
As such, FSIUs are being considered for several projects, including the Havstjerne CCS project in Norway. The Havstjerne carbon storage project is 40% owned by Stella Maris CCS, a unit of Yinson Production.
Through this MoU, the companies will leverage their combined expertise to develop integrated solutions for the transportation and injection of liquefied CO2 in the CCS value chain. This initiative supports the decarbonization of industries and society.
"This collaboration with “K” LINE builds on our longstanding relationship and complements our deep knowledge of offshore marine systems. By combining our FPSO and offshore engineering expertise with “K” LINE’s proven CO2 shipping capabilities, we are well positioned to contribute to the development of innovative services that will enable large-scale carbon transport and storage.
“This provides a one-stop solution to help industrial emitters achieve their decarbonisation targets. We look forward to supporting the growth of the CCS sector and accelerating progress toward global decarbonization,” said Lars Gunnar Vogt, Chief Technical Officer of Yinson Production, said:
"Our collaboration with Yinson Production builds on a strong foundation established through FPSO business and reflects our shared commitment to enabling scalable CCS solutions.
“By combining their offshore engineering expertise with our experience in CO2 shipping, we are developing an offshore unloading capability and bespoke transport solutions to serve a broader range of CO2 storage sites. This will complement traditional port-to-port transport models for CCS Value Chain and offer emitters greater flexibility in meeting their decarbonization goals,” added Kei Onishi, Corporate Officer of “K” LINE.
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