NYK, Knutsen to work on liquefied CO2 marine transport
SUMMARY
NYK and the Knutsen Group will each hold a 50% stake in a new company.
By Shardul SharmaPOSTED IN:
Japanese shipping company NYK and Norway’s Knutsen Group have established a joint venture company for the commercial development of a liquefied CO2 marine transportation and storage business, they said on January 18.
The joint venture will use Knutsen-developed technology PCO2 which allows transport of liquefied CO2 at ambient temperatures. NYK and the Knutsen Group, will each hold a 50% stake in the new company, which has been named Knutsen NYK Carbon Carriers (KNCC). KNCC will also build and operate low/mid pressure vessels based on other technologies.
The establishment of this joint venture will be an important foothold for participation in the CCUS value chain, they said.
