Mitsui O.S.K. Lines, Ltd. (MOL) is set to undertake a pivotal role in an ambitious carbon capture and storage (CCS) initiative off the northern to western coast of Kyushu. The initiative, implemented by a consortium consisting of ENEOS Corporation, Electric Power Development Co., Ltd. (J-Power), and JX Nippon Oil & Gas Exploration Corporation, has enlisted MOL to conduct a comprehensive study on liquefied CO2 transport by vessel.
JOGMEC (Japan Organization for Metals and Energy Security), spearheading large-scale potential CCS projects in the pursuit of carbon neutrality by 2050, has designated the northern to western Kyushu CCS endeavor as a prominent “Advanced CCS Project.” This project will stand as a formidable contender among JOGMEC’s advanced CCS initiatives, boasting an impressive annual CO2 storage capacity of approximately 3 million tons.
The framework of the CCS project outlines emissions stemming from ENEOS refineries and J-Power thermal power plants in Western Japan. The transport mode will incorporate both vessels and pipelines, while the designated storage site encompasses offshore saline aquifers in the northern to western Kyushu region.
MOL’s role encompasses an initial voyage plan study, the estimation of marine transport costs, and the identification of potential risks and challenges linked to the transportation of liquefied CO2. The carbon dioxide will be collected from J-Power’s thermal power plants and ENEOS’s refineries in Western Japan, destined for the designated storage sites. The carrier will operate under specific liquefaction conditions, characterized by low temperature and low pressure, or medium temperature and medium pressure.
The ultimate objective of MOL’s involvement in this venture is to contribute to the realization of domestic CCS by FY2030 and, consequently, the progression towards a carbon-neutral society. This aligns seamlessly with MOL’s broader aspirations as it seeks to diversify its portfolio beyond conventional shipping operations. The initiative resonates with the “BLUE ACTION 2035” management plan, which underscores the expansion of offshore and non-shipping businesses, as well as the “MOL Group Environmental Vision 2.2,” which highlights the commitment to expanding low-carbon and decarbonized business opportunities.
As the global community strives to address pressing sustainability concerns, MOL’s strategic involvement in this transformative CCS project underpins its dedication to societal well-being and environmental preservation. Through this visionary initiative, MOL is poised to pave the way for a prosperous and eco-conscious future.
