Image:Overseas Shipholding Group
Overseas Shipholding Group, Inc. (OSG), a prominent U.S. flag tanker firm, has secured a significant milestone in its efforts towards carbon capture and storage with the announcement of a $3 million grant from the U.S. Department of Energy. The grant aims to finance the design and engineering of a novel vessel tailored for the transportation of liquefied carbon dioxide (CO2).
The vessel, envisioned as an articulated tug and barge unit (ATB), will play a crucial role in the transportation of captured CO2 from emission sources across Florida and the Greater Tampa Bay region to designated sequestration sites in the Gulf of Mexico.
This grant represents a significant advancement towards establishing a comprehensive CO2 storage and transport infrastructure for Florida’s industrial emitters. It follows a previous Department of Energy grant awarded to OSG in December 2023 for the development of the Tampa Regional Intermodal Carbon Hub (T-RICH), spearheaded by the company.
T-RICH, situated at Port Tampa Bay, is slated to serve as an intermediate storage facility for captured CO2. Initial projections indicate that T-RICH will have the capacity to receive, store, and process up to two million metric tons of CO2 annually, with potential expansion capabilities to accommodate larger volumes. The newly funded ATB will facilitate the marine transportation of liquefied CO2 from the T-RICH terminal to approved sequestration sites in the northern Gulf region.
Sam Norton, President and CEO of OSG, highlighted the pivotal role of carbon capture and storage systems in achieving net-zero carbon emissions by 2050. He emphasized that the transportation of liquefied CO2 represents a natural progression for OSG, leveraging the company’s extensive experience with liquid cargoes.
Jeff Williams, Director of CO2 Transport Solutions at OSG, emphasized the transformative impact of the projects on Florida’s industrial landscape. He underscored that these initiatives will accelerate the adoption of carbon emission reduction plans, enhance community health, and stimulate job creation.
Williams elaborated on the significance of the T-RICH hub at Port Tampa Bay, noting its role in aggregating and storing captured CO2 for loading onto OSG’s LCO2ATBs. These vessels will then transport the cargoes to the northern Gulf of Mexico, renowned for its capacity for safe and permanent underground sequestration of captured CO2.
OSG’s latest grant underscores its commitment to pioneering sustainable solutions in maritime transportation, heralding a significant stride towards carbon neutrality.
