Chiyoda Corporation, NYK Line and Knutsen NYK Carbon Carriers (KNCC) have signed a memorandum of understanding to collaborate on carbon capture and storage projects in Japan and overseas markets.
The agreement covers multiple stages of project development, including concept studies, feasibility studies, pre-FEED and FEED, as well as engineering, procurement and construction.
Chiyoda will undertake studies on onshore infrastructure, including CO2 capture, liquefaction and temporary storage, and will assess compliance with relevant regulations. NYK will study LCO2 shipping using low-pressure, medium-pressure and elevated-pressure transport options, and will act as project coordinator. KNCC will study offshore transport, direct injection and floating solutions for liquefaction, storage and injection.
The collaboration builds on a joint study completed in 2024, which assessed costs and schedules across the CCS value chain for low-, medium- and elevated-pressure LCO2 transport systems. The study also examined challenges associated with deployment and the results will be used to support value chain studies tailored to individual CCS projects.
KNCC is developing an elevated-pressure LCO2 transport system designed to integrate liquefaction, storage, shipping and offshore injection. The company states that its containment technology enables CO2 to be transported at elevated pressures, reducing the need for cryogenic temperatures.
The agreement includes a focus on evaluating CO2 transport options and supporting CCS project development in Japan and international markets. The companies stated that the collaboration is intended to support the development and commercialisation of CCS projects and contribute to the establishment of carbon management value chains.
Regulatory frameworks for cross-border CO2 transport and long-term revenue models for CCS projects remain under development in several markets, which may affect project timelines.
