Japanese shipping giant NYK will collaborate with Norway’s Knutsen Group (Knutsen) as part of a joint venture to develop a global liquefied carbon dioxide (LCO2) marine transportation and storage business.
The new company, to be titled Knutsen NYK Carbon Carriers AS (KNCC), will utilise Knutsen’s PCO2 technology which allows transport of LCO2 at ambient temperatures.
As carbon capture, utilisation and storage (CCUS) becomes a more ubiquitious way of lowering carbon emissions and reaching net zero targets, the demand for transport of the captured carbon dioxoide (CO2) to storage sites is expected to grow rapidly.
LCO2 loading and offloading onshore and offshore through the company’s Knutsen NYK Offshore Tankers (KNOT).
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