Japan’s Mitsui OSK Lines (MOL) has signed an agreement with Malaysian energy producer Petronas, and its subsidiary MISC Berhad to establish a joint venture to invest in the development and commercialisation of liquefied Carbon Dioxide (LCO2) carriers for carbon capture and storage (CCS) projects.

MOL and Petronas have been exploring the possibilities of developing an international CCS value chain to transport CO2 from Japan to Malaysia for some time. Petronas notes that the two companies originally signed an MoU in February 2022 to collaborate in the development of conceptual designs for LCO2 carriers. The resulting LCO2 carrier design received four Approvals in Principle (AiPs) in June 2023.

The Motorship previously reported that MISC signed a deal with Andritz to collaborate on the application and optimisation of its carbon capture technologies for stationary and maritime applications in January 2023.