#Japan #Tokyo #CO₂ Transport #Northern Lights #MOL

MOL's Pioneering Step in CO2 Transportation

Mitsui O.S.K. Lines, Ltd. (MOL), under the leadership of President Tsuyoshi Hashimoto, has taken a significant step in the realm of carbon capture and storage (CCS) by signing a long-term charter agreement with Northern Lights JV DA. This agreement comes alongside a shipbuilding contract with HD Hyundai Heavy Industries Co., Ltd., marking the construction of two state-of-the-art liquefied CO2 carriers. These vessels, featuring LNG dual-fuel capabilities and ice-class specifications, are slated for delivery around 2028.

The innovative project focuses on efficiently transporting CO2 collected from various locations across Europe to a reception facility located in Øygarden, Norway. The significance of this initiative cannot be overstated as it plays a crucial role in combatting climate change by enabling effective carbon management strategies. Northern Lights aims to provide a sustainable and secure method for CO2 storage that includes transporting the gas via a deep-sea pipeline to a permanent storage site approximately 2,600 meters beneath the surface of the North Sea.

The Necessity of Carbon Capture and Storage (CCS)

Achieving a decarbonized society is contingent upon the successful implementation of Carbon Capture and Storage. This involves capturing CO2 emissions, preventing them from entering the atmosphere, and securely storing them deep underground. As such, liquefied CO2 maritime transport represents a vital link connecting CO2 sources with storage sites.

By 2025, the Northern Lights project is expected to be operational, boasting a CO2 transportation and storage capacity of 1.5 million tons per year, which is poised to increase to over 5 million tons annually by 2028. Such capacities will significantly aid industries that find decarbonization to be particularly challenging.

The vessels operated by MOL are expected to primarily transport CO2 from the Stockholm Exergi CO2 recovery plant in Sweden to the aforementioned reception facility in Øygarden, Norway. This initiative represents a crucial logistical component in the expanding CCS value chain, reinforcing MOL's commitment to fostering environmental sustainability and addressing carbon emissions effectively.

MOL's Commitment and Strategic Vision

MOL has established itself as a global leader in the liquefied gas transportation sector, including LNG carriers. Their expertise in this field, coupled with strategic investments in companies like Larvik Shipping, positions them as a trusted partner in the liquefied CO2 transport industry. Their commitment spans over three decades of experience in transporting liquefied CO2 across European waters.

This initiative aligns seamlessly with MOL's broader vision for sustainable development, encapsulated in the MOL Group's Environmental Vision 2.2. This vision emphasizes the importance of expanding decarbonization initiatives and leveraging technological advancements to meet evolving societal needs.

As MOL continues to evolve its operations, the goal remains clear: to contribute to the sustainable development of people, society, and the planet. Through these pioneering efforts in carbon capture and transportation, MOL is not just aiming for business growth, but actively participating in the creation of a greener, more sustainable future for all.

For more information on the Northern Lights project and MOL's initiatives, you can visit the official Northern Lights website at norlights.com.