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MHI to Participate in “CO2LOS III” Project, Aiming to Achieve Business in CO2 Shipping
-- Collaboration with Major European CCUS Players and Research Organizations Will Advance CCUS Value Chain Business --
-- Collaboration with Major European CCUS Players and Research Organizations Will Advance CCUS Value Chain Business --
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･ Sharing of knowledge and information necessary for realizing CO2 shipping will boost development of CO2 transport technologies and achievement of CCUS value chain business
･ Collaborating with major CCUS players and research organizations of Europe, where decarbonization projects are robust, will contribute significantly to LCO2 carrier development and market expansion
Image of an LCO2 Carrier
Tokyo, November 11, 2021 – Mitsubishi Heavy Industries, Ltd. (MHI) will participate in “CO2LOS III” (CO2 Logistics by Ship Phase III), a project to consider issues needing to be addressed in order to achieve business in liquefied CO2 (LCO2) carriers. CO2LOS III is aimed at promoting the development of technologies for transporting LCO2 by ship, as a complement to existing pipeline transport, through a partnership targeting sharing of knowledge and information necessary for understanding future needs and solutions in CO2 transport.
Partners in the project, co-founded by the Norwegian CLIMIT-Demo programme via Gassnova, include MHI, Air Liquide S.A., BP, Brevik Engineering AS, Equinor Energy AS, Gassco AS, SINTEF, TotalEnergies and Mitsubishi Corporation. By collaborating with these leading enterprises of Europe, where decarbonization projects are robust in the area of CO2 transport, an indispensable part of the CCUS (carbon capture, utilization and storage) value chain, MHI anticipates significant contributions to LCO2 carrier development and market expansion.
MHI Group will contribute to building a CCUS value chain spanning land and sea by bringing to the project the full complement of its Groupwide knowledge and expertise. This includes the advanced gas handling technologies accumulated through Mitsubishi Shipbuilding Co., Ltd.’s construction of liquefied gas carriers (both liquefied petroleum gas [LPG] and liquefied natural gas [LNG]) and Mitsubishi Heavy Industries Engineering, Ltd.’s widely adopted carbon capture technologies.
CCUS and CCS (carbon capture and storage) are garnering attention today as effective means of achieving a carbon-neutral society. Within their value chains, LCO2 carriers will play a vital role in transporting LCO2 to storage and utilization sites, and demand for such transport vessels is projected to expand in the future.
MHI Group is currently undertaking strategic strengthening of business in the energy transition, and CO2 ecosystem building is central to this initiative. Through its participation in CO2LOS III, the Company will continue to focus on developing and providing the technologies relating to the LCO2 carriers necessary to CCUS value chain building, to make important contributions toward realizing the carbon-neutral society of tomorrow.
About MHI Group
Mitsubishi Heavy Industries (MHI) Group is one of the world’s leading industrial groups, spanning energy, smart infrastructure, industrial machinery, aerospace and defense. MHI Group combines cutting-edge technology with deep experience to deliver innovative, integrated solutions that help to realize a carbon neutral world, improve the quality of life and ensure a safer world. For more information, please visit www.mhi.com or follow our insights and stories on spectra.mhi.com.