Mitsubishi Shipbuilding, a part of Mitsubishi Heavy Industries (MHI) Group and Nihon Shipyard, a Tokyo-based joint venture for ship design and sales between Imabari Shipbuilding and Japan Marine United Corporation, have signed a memorandum of understanding (MoU) with Mitsu and Mitsubishi Corporation on a collaborative study for ocean-going liquified CO2 (LCO2) carriers to realise large-scale international transportation in Japan initiated CCS (C02 Capture and Storage) from 2028 onwards.
The four companies will proceed with this initiative aiming to apply it at the future commencement of CCS business led by the Japanese government.
The Japan Organisation for Metals and Energy Security (JOGMEC) launched a feasibility study on a Japanese Advanced CCS Project, as a public offered project in 2023. Demand for LCO2 carriers is expected to increase in the near future to transport captured CO2 from Japan to storage areas in various CCS projects. It is considered important to standardise the specification and design of LCO2 carriers across each project as well as to establish a realistic production supply chain so that LCO2 carriers will be constructed and supplied stably in Japan and a CCS value chain will be achieved with improved economic efficiency. The signed MoU suggests that four companies have agreed to make a collaboration to solve these issues related to the construction of LCO2 carriers and marine transportation, starting with Japan-initiated CCS projects to the Asia-Pacific region.
Mitsubishi Shipbuilding and Nihon Shipyard have already begun a joint study to build LCO2 carriers, demands for which are expected to increase in the near future, by making the most of their strengths while mutually complementing each other. Mitsui and Mitsubishi Corporation, who are now advancing business development for early launch of the CCS business, are selected as leading companies in the Japanese Advanced CCS Project by JOGMEC aiming for overseas CO2 storage.
MHI Group is pursuing strategic measures to strengthen its business for the energy transition. Mitsubishi Shipbuilding, for its role in this initiative, efforts to contribute the advance of the maritime industry in Japan and around the world by utilising its shipbuilding-based marine engineering technologies in addition to conventional shipbuilding. Mitsubishi Shipbuilding will actively promote the development of LCO2 carriers and establishment of CCS value chain through collaboration with various domestic/overseas companies, and also construction of a demonstration ship for transport of LCO2 for New Energy and Industrial Technology Development Organization (NEDO).
Nihon Shipyard is actively working on commercialisation of LNG and ammonia fuelled ships as preparation of upcoming strengthening of GHG emission regulations. As the next initiative, the company is contributing to realise a sustainable carbon neutral society by delivering LCO2 carriers essential for establishment of CCS value chain.
