Nippon Yusen Kabushiki Kaisha (NYK) and its affiliate Knutsen NYK Carbon Carriers AS have signed a memorandum of understanding with PETRONAS CCS Solutions Sdn. Bhd., a subsidiary of Petroliam Nasional Berhad (PETRONAS), to jointly study the development of a cross-border carbon capture and storage (CCS) value chain.
The MoU formalises the launch of a feasibility study examining the technical and commercial viability of CCS based on the Elevated Pressure (EP) method. The study will focus on the marine transportation of liquefied carbon dioxide (LCO₂) across borders, alongside associated elements including temporary storage and offshore injection into subsurface reservoirs.
Under the EP concept, CO₂ is transported at higher pressure, enabling more efficient shipping and potentially reducing overall system costs compared with conventional low-pressure approaches.
The partners said the work will evaluate how an integrated LCO₂ shipping and storage chain could be deployed to support regional decarbonisation efforts, particularly in markets where suitable storage sites are located away from major emission sources.
The study is expected to inform future commercial CCS projects involving international CO₂ transport by sea.
