Mitsubishi Shipbuilding and French Company TotalEnergies Initiate Feasibility Study of LCO₂ Carrier -- Project for Technology Development and Market Formation in the CCUS Value Chain Aimed at Reducing CO₂ Emissions --

Image of an LCO₂ carrier

Tokyo, August 26, 2021 – Mitsubishi Shipbuilding, a part of Mitsubishi Heavy Industries (MHI) Group, has initiated a feasibility study with TotalEnergies for development of a liquefied CO₂ (LCO₂) carrier. By furthering development of technologies to reduce the volume of CO₂ emissions in the oil and gas industry, MHI Group aims to strengthen its businesses supporting strategic efforts for energy transition.

MHI Group is pursuing a range of measures for a decarbonized society, and establishing a CO₂ ecosystem is a key part of that effort. Further, carbon dioxide capture, utilization, and storage (CCUS) is attracting attention worldwide as an effective means to achieve decarbonization. LCO₂ carriers play a pivotal role in transporting CO₂ from its emission sources to storage sites or facilities for utilization, and demand for these vessels is expected to increase in the future.

Mitsubishi Shipbuilding is actively pursuing commercialization of LCO₂ carriers, and this project is expected to make a significant contribution to the establishment of a CO₂ ecosystem in the CO₂ transport sector, which will be an essential component of the CCUS value chain. MHI Group is aiming to contribute to the construction of the CCUS value chain that spans the sea and land by bringing together the knowledge of the Group companies, such as the advanced gas handling technologies accumulated by Mitsubishi Shipbuilding in building liquefied petroleum gas (LPG) carriers and liquefied natural gas (LNG) carriers, and the CO₂ capture technologies of Mitsubishi Heavy Industries Engineering which has the world’s leading market share.

Bruno Seilhan, Vice President CCUS at TotalEnergies, said: “We are pleased to partner with Mitsubishi, whose expertise in shipbuilding is well proven, in order to study large tonnage liquid CO₂ carrier opportunities. Such vessels will be key to accommodate the expected surge in transported CO₂ volumes for geological storage triggered by the acceleration in net zero carbon targets worldwide and to meet world industrial emitters’ needs. It is fully aligned with our Climate Ambition to get to net zero emissions by 2050.”

Toru Kitamura, President of Mitsubishi Shipbuilding said: “We are pleased that TotalEnergies, which plays an important role in the world’s leading CCUS value chain market, has expressed high regard for our technology and experience. We believe that LCO₂ carriers are an effective solution for achieving a decarbonized world. We will continue to actively pursue technology development in cooperation with partners seeking to achieve decarbonization using LCO₂ carriers, with the aim of market formation for the CCUS value chain.”

Going forward, through this joint project with TotalEnergies, MHI Group will continue to develop and offer a wide range of technologies related to the LCO₂ carriers essential to building a CCUS value chain, and contribute to the realization of a decarbonized society.

Video of LCO₂ carrier