Hyundai Heavy Industries Group (HHI) and KSOE have announced the development of what will be the world’s largest liquefied CO2 carrier.
The groundbreaking new project is a joint venture between HHI, the American Bureau of Shipping (ABS) and the Republic of the Marshall Islands (RMI) Maritime Administrator.
Building on Hyundai’s proprietary 40,000cm3 “super gap” technology that was developed last year, the new carrier will have a capacity of 74,000cm3.
The design is set to be verified by ABS, upon which the RMI Maritime Administrator will have to accept and approve it, whereas equivalent arrangements will be required.
This announcement comes shortly after another joint project led by HHI Group was awarded approval in principle by ABS.
The project involved developing a platform for the injection and storage of liquefied CO2 that has been captured on land, liquefied and transported via pipeline or carrier.
Said platform’s estimated storage capacity is said to be 400,000 tons of carbon dioxide per year and it is located in Korea’s East Sea gas field.
The project is set to become operational in 2025.
As for the LCO2 carrier, HHI Senior Executive Vice President & Chief Technical Officer Joo Won-ho is certain that as the carbon capture market expands, the demand for liquefied CO2 is only going to increase, as well.
His hopes are for this latest project to contribute to the world’s decarbonization efforts and help reach net zero emissions as soon as possible.
On its part, ABS also acknowledged its role in advancing the technology that would enable the carbon value chain, such as by working on vessels that are expected to play a key role in the development and growth of the carbon industry at large.