Mitsui O.S.K. Lines (MOL) and The Kansai Electric Power Company (KEPCO) have signed a Memorandum of Understanding to study CO2 ocean transport for the development of a carbon capture and storage (CCS) value chain.
As part of the MoU, MOL and KEPCO will work together on the development of a CCS value chain that includes the separation, capture, transportation, injection, and storage of carbon dioxide coming from KEPCO’s thermal power plants.
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The two companies will study the marine transport of liquefied carbon to potential storage locations.
MOL’s target is to achieve net zero greenhouse gas emissions by 2050 through coordinated group-wide efforts outlined in its MOL Group Environmental Vision 2.1.
Through the Memorandum of Understanding, MOL Group aims to further speed up its efforts in the liquefied CO2 transport business.
Mitsui O.S.K. Lines is a Japanese transport firm headquartered in Tokyo. It is among the largest shipping companies in the world.
KEPCO is an electric utility company, which operates in the Kansai region in Japan.
Read more: Mitsui Is On The Lookout For CO2 Storage Sites In Asia-Pacific