Carbon capture, utilisation, and storage (CCUS) is acknowledged by many in industry and government to be a critical factor in achieving net-zero economy by 2050.
In order to help create a pathway towards a net-zero economy, three leading companies, AB Klaipedos nafta (KN), Larvik Shipping AS (LS), and Mitsui O.S.K. Lines, Ltd. (MOL) have reached an agreement to commence a feasibility study to develop liquefied CO2 (LCO2) loading facilities at KN’s existing infrastructure in Klaipeda, Lithuania.
With verified emissions from installations covered by the European Emissions Trading Scheme in Lithuania alone reaching approximately 6 million tonnes of CO2 in 2022, it was identified that carbon capture is an area that must be investigated further.
In addition to carbon capture, the study indicated that further research may also help accelerate the clean hydrogen production from fossil fuels.
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