Breakthrough Cargo Tank System Transports Liquefied CO2 at Ambient Temperature
Knutsen NYK Carbon Carriers AS, which is an affiliate of NYK, received approval in principle (AiP) from the Norwegian classification society DNV on April 5 for the PCO2® tank system, which can transport and store liquefied carbon dioxide (CO2) at ambient temperature.
This is the world's first AiP for a cargo tank system that can marine transport and store liquefied CO2 at ambient temperature.
Future expansion of the CCUS value chain* will require larger vessels to maximize transportation efficiency. The concept of the PCO2® tank system is to transport liquefied CO2 over ambient temperatures (0–10°C) and under high pressure (35–45 bar). This makes it possible to transport liquefied CO2 in larger vessels than vessels that transport it under low or medium pressure, and to reduce costs incurred throughout the CCUS value chain.
Furthermore, transporting at ambient temperature and high pressure makes it possible to keep the pressure, temperature, and condition of liquefied CO2 relatively uniform from the transport of liquefied CO2 to injection into the seabed or underground. It makes it easier to handle liquefied CO2 in the CCUS value chain, which also has the advantage of reducing costs throughout the CCUS value chain.
Image of liquefied CO2 carrier equipped with a PCO2® tank system
In the future, KNCC aims to realize the operation of liquefied CO2 carriers at an early stage and participate in the CCUS value chain.
Knut Ørbeck-Nilssen, DNV Maritime CEO
Trygve Seglem, Owner of Knutsen Group and Vice Chair of KNCC
Svein Steimler, President & CEO of NYK Group Europe Ltd., Managing Executive Officer of NYK and Chair of KNCC
Anders Lepsøe, CEO of KNCC
Per Lothe, Technical Advisor of KNCC
On February 3, 2021, NYK released the “NYK Group ESG Story,” which aims to further integrate ESG into the company’s management strategy and promotes activities that contribute to the achievement of the SDGs through business activities. On March 24, 2022, NYK released the updated “NYK Group ESG Story 2022,” which introduces initiatives for integrating ESG into the Group’s management strategies set forth in the "NYK Group ESG Story" and provides a partial explanation of the Group’s sustainable growth strategy from a long-term perspective. To strongly promote ESG management, NYK will continue to create new value as a Sustainable Solution Provider.
<The NYK Group ESG Story>
A guideline detailing concrete efforts to integrate ESG into management strategies of the NYK Group.
< The NYK Group ESG Story 2022>
* Image of Carbon Capture, Utilization and Storage (CCUS) value chain
CCUS refers to “carbon capture, utilization and storage” and is a process that captures CO2 released from thermal power plants, factories, etc. and either uses it in production processes for crops, chemicals, construction materials, etc. or stores it in a stable underground geological formation.
Overview of KNCC
Head Office: Haugesund, Norway
Business: Marketing and business development of liquefied CO2 transportation and storage
Investment Ratio: NYK 50%, Knutsen Group 50%
CEO: Anders Lepsøe
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