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)
June 2021: MOL Joined as one of the initial supporting members of the Asia CCUS Network
November 2021: Completion of Concept Study of Liquefied CO2 Carrier
(Note 1) MOL Group Environmental Vision 2.1