MOL joins international think tank and accelerate development for carbon capture, utilization and storage
Mitsui O.S.K. Lines, Ltd. has joined the Australia-based Global CCS Institute (GCCSI), an international think tank on carbon capture and storage (CCS), which is recognized as a means to achieve a low-carbon and decarbonized society, according to the company's release.
GCCSI's mission is to accelerate the deployment of carbon capture and storage (CCS), a vital technology in future initiatives to reduce carbon emissions in the atmosphere, moving forward with trend surveys, while working to share knowledge and raise awareness of the technology. Its diverse membership includes representatives from governments, private companies, research institutes, and non-governmental organizations. GCCSI is headquartered in Melbourne and has offices in Washington, D.C., Brussels, Tokyo, Beijing, and Abu Dhabi.
MOL entered the business of transporting liquefied carbon dioxide (CO2) by sea in March 2021, when it invested in Larvik Shipping AS, which has managed industrial liquefied CO2 vessels in Europe over 30 years. By combining its accumulated experience in safe vessel operation and cargo handling with LS's know-how and solid track record, MOL will examine ways to expand the scale of liquefied CO2 vessels and contribute to the further worldwide development of the liquefied CO2 ocean transport business.
Drawing upon the knowledge and accessed through its participation in GCSSI, MOL aims to expand both upstream and downstream in carbon capture, utilization and storage business value chains, and contribute to the achievement of a sustainable, decarbonized society.
