NYK signs MoU with subsidiary of Pertamina for cooperation in liquefied CO2, LNG transportation and ship management
On June 20, NYK and PT Pertamina International Shipping ("PIS"), a marine logistics subsidiary of PT Pertamina (Persero) ("Pertamina"), a state-owned oil and gas company in Indonesia, signed a memorandum of understanding (MoU) to collaborate in the field of liquefied carbon dioxide (LCO2) and liquefied natural gas (LNG) and jointly establish a ship-management company, according to the company's release.
NYK aims to develop a strong cooperative relationship with PIS in the field of LCO2 and LNG transportation, which is a priority for the Indonesian government and is expected to grow in the future towards a low-carbon and decarbonized society. Furthermore, by jointly establishing a ship-management company, NYK plans to contribute to stable ocean transportation and create opportunities for training and employment for seafarers in the country.
Based on the strategic partnership agreements signed in 2022, NYK and PIS have agreed to collaborate in obtaining business opportunities through assessments and feasibility studies for the transboundary transportation of LCO2 to and from Indonesia. The two companies aim to offer LCO2 transportation services for storage operators and CO2 emitters like Pertamina.
NYK and PIS agreed to begin full-scale discussions on joint ownership of LNG carriers. Based on NYK’s more than 40 years of experience in owning and operating LNG carriers, we will work with PIS to meet the demand for LNG transport in Indonesia, where further expansion of LNG production and consumption is expected.
NYK and PIS have agreed to jointly establish a ship-management company.
