Japanese transport company Mitsui O.S.K. Lines (MOL), French engineering and technology firm Technip Energies, and startup deepC Store will work together on installing a floating Carbon Capture and Storage (CCS) hub off the coast of Australia and potentially in the Asia Pacific region.
The trio signed a letter of intent (LOI) for the engineering, procurement, and construction, and operations of the floating storage and injection CStore1 project.
“As a provider of social infrastructure service in addition to traditional shipping, MOL is honored to have an opportunity to expand our involvement in the CStore1 project,” said Yasuchika Noma, Executive Officer of Mitsui O.S.K. Lines. “We are also delighted about another collaboration with deepC Store and T.EN in this project for further development.”
The project has a planned carbon injection capacity of 1.5 to 7.5 million metric tons per annum and is intended to support decarbonization efforts and a transition to a more sustainable future.
The hub covers the entire CCS value chain and will allow for the capture of liquified carbon from a number of industrial sources. The CO2 will then be offloaded on the floating station before injecting it for permanent subsurface storage.
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“The FSI hub is a key facility within the overall CStore1 project for unlocking a range of remote offshore CO2 injection sites,” said Jack Sato, Chairman of deepC Store. “The LOI with MOL and T.EN ensures technical confidence to develop CStore1 as the first offshore floating CCS hub project in the Asia Pacific region.”
As part of the agreement, Technip Energies will provide FEED and EPC services, while MOL will offer operation and maintenance services. Technip Energies’ subsidiary Genesis will additionally provide engineering services.
“We look forward to creating a cost-effective and sustainable option for the receiving and handling of carbon in the region,” said Paul Browne, Australia Country Manager of Technip Energies.
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