MOL Completes Concept Study of 'Ammonia/Liquefied CO₂ Carrier'

March 31, 2022

TOKYO-Mitsui O.S.K. Lines, Ltd. (MOL; President & CEO: Takeshi Hashimoto) today announced the completion of a concept study on an ammonia/liquefied CO₂ carrier to flexibly meet future demand for transport of liquefied CO₂ and ammonia transport with a vessel type that could become the mainstream in this transport field. MOL cooperated with the Mitsubishi Heavy Industry (MHI) Group's Mitsubishi Shipbuilding Co., Ltd. (President: Toru Kitamura; Headquarters: Nishi-ku, Yokohama) on this research.

The liquefied CO₂ carrier (LCO₂ carrier) can play a key role in efficiently transporting captured liquefied CO₂ to storage reservoirs or usage sites in the value chains of carbon dioxide capture utilization and storage (CCUS), which is drawing attention as a means of realizing a low- and decarbonized society.

In addition, there is growing interest in ammonia as a next-generation clean energy source that does not emit CO₂ during combustion. The movement to strategically use ammonia is increasing under the global trend toward decarbonization.

Like the LCO₂ carrier, for which a concept study was completed in November 2021, the cargo tank capacity of the "ammonia/liquefied CO₂ combined carrier," is set at around 50,000m3 on the assumption of the future liquefied CO₂/ammonia market.

In the future, based on this ship type, MOL continually studies other various ship types with Japanese maritime clusters to flexibly meet customer needs based on the overall value chain.

MOL entered the liquefied CO₂ ocean transport business through investment in Larvik Shipping AS (LS; Headquarters: Norway), which has managed LCO₂ carriers for industrial customers in Europe for over 30 years. The company continues to study ways to realize the LCO₂ carrier to meet customer needs, while drawing upon its accumulated expertise in safe vessel operation and LS's know-how and track record, to contribute to the worldwide growth of the liquefied CO₂ ocean transport business.

The "MOL Group Environmental Vision 2.1" (Note 1) sets a mid-to-long-term target, "With concerted effort throughout the Group, achieve net zero greenhouse gases (GHG) emissions by 2050," and establishing five initiatives to achieve that goal and contribute to society's cumulative GHG emissions.

[MOL CCUS Projects and related press releases]
December 2020: Participating in Australian offshore CO₂ Capture and Storage (CCS) Hub Project (deepC Store)

March 2021: MOL to Move into Ocean Shipping of Liquefied CO₂ Ocean Transport Business through Investment in Norway's Larvik Shipping AS

May 2021: Klaipedos nafta, Larvik Shipping, and Mitsui O.S.K. Lines will carry out a feasibility study for liquefied CO₂ and hydrogen project in Klaipeda, Lithuania

June 2021: MOL Joins International Think Tank and accelerate development for Carbon Capture, Utilization and Storage

June 2021: MOL Starts Research and Development on Large-scale Liquefied CO₂ Carrier - Part of NEDO Demonstration Project entrusted by Japan CCS –

June 2021: MOL Joined as one of the initial supporting members of the Asia CCUS Network

July 2021: "Ship Carbon Recycling Working Group" of Japan's Carbon Capture & Reuse Study Group has confirmed that carbon recycled methane can be recognized as zero emission ship fuel

November 2021: Completion of Concept Study of Liquefied CO₂ Carrier

February 2022: MOL and PETRONAS Sign MoU on Liquefied CO₂ Transportation for CCUS

(Note 1) MOL Group Environmental Vision 2.1
https://mol.disclosure.site/en/themes/101

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