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MHI TO COLLABORATE WITH EUROPEAN PLAYERS IN CCUS PROJECT

MHI TO COLLABORATE WITH EUROPEAN PLAYERS IN CCUS PROJECT

Thursday, November 11, 2021 

Mitsubishi Heavy Industries (MHI) has announced its participation in the 'CO2LOS III' (CO2 Logistics by Ship Phase III) project, which will 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, BP, Brevik Engineering, Equinor Energy, Gassco, SINTEF, TotalEnergies and Mitsubishi Corporation. By collaborating with these leading European enterprises, where decarbonisation projects are underway 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 Group-wide knowledge and expertise. This includes advanced gas handling technologies accumulated through Mitsubishi Shipbuilding’s construction of liquefied gas carriers (both LPG and LNG) and MHI Engineering’s carbon capture technologies.

According to MHI, CCUS and CCS (carbon capture and storage) are gathering attention today as effective means of achieving carbon neutrality. Within their value chains, LCO2 carriers will play a vital role in transporting LCO2 to storage and utilisation sites, and demand for such transport vessels is projected to expand in the future.

MHI Group is currently undertaking strategic strengthening of business in 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, and make important contributions toward realising a carbon-neutral society.

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