JX, NYK, and KNCC Jointly Study Optimization of CO2 Liquefaction and Storage Process
Source: www.gulfoilandgas.com 3/21/2024, Location: Europe
JX Nippon Oil & Gas Exploration Corporation (“JX”), Nippon Yusen Kabushiki Kaisha (“NYK”) and its
affiliate Knutsen NYK Carbon Carriers AS (“KNCC”) are pleased to announce that we have signed a
Memorandum of Understanding (“MoU”) on March 15 for a joint study on the optimization of carbon
dioxide (CO2) liquefaction and storage processes using KNCC's proprietary technology Cargo Tank
Cylinders (“CTC”).
This study aims to optimize the CO2 transportation system using CTC by utilizing the characteristics
of the EP (elevated pressure) method, which stores and transports liquefied CO2 at higher
temperatures and pressures than the LP (low pressure) and MP (medium pressure) methods. This
study is expected to solve the problems in the CCUS value chain, such as capital investment, energy
consumption, and environmental impact. The three companies will conduct optimization verification
by the latter half of 2024 using CTC's demonstration facility "test rig" owned by KNCC in Norway
and, based on the verification results, will study the possibility of social implementation in concrete
terms.
