Bumi Armada, Navigator Gas and Bluestreak CO2 announce MoU with Uniper for joint study on export of CO2 emissions from proposed UK carbon capture plant
Bumi Armada Berhad and Navigator Holdings Ltd., announced today that Bluestreak CO2 Limited, the 50/50 joint venture relating to the previously announced non-binding memorandum of understanding between Bumi Armada and Navigator Gas, has entered into a memorandum of understanding with international energy company, Uniper (UK) Limited, to help meet the UK Government’s aim of decarbonising the power sector by 2030, according to Bumi Armada's release.
Pursuant to the MoU, the parties have agreed to collaborate to explore the feasibility of implementing a jetty-moored floating liquid CO2 storage facility and liquid CO2 carrier solution, for the export of CO2 from Uniper’s proposed Grain Carbon Capture project on the Isle of Grain, United Kingdom. The parties to the MoU anticipate that Bluestreak CO2, by leveraging the expertise and experience of Bumi Armada and Navigator Gas, could design, and ultimately implement, a comprehensive CO2 value chain.
The value chain is expected to be comprised of liquid CO2 shuttle tankers capable of loading from and delivering to either a floating carbon and storage unit or floating carbon, storage and injection unit. The complete value chain is expected to transport liquid CO2 safely and reliably, and provide buffer storage capability. The CO2 is intended to be subsequently injected into offshore storage aquifers and/or depleted oil and gas reservoirs in a controlled manner, with surveillance and management of the permanent storage location.
It is anticipated that the collaboration with Uniper will demonstrate how Bluestreak CO2 is able to serve emitters with no access to pipeline infrastructure in effectively managing their CO2 emissions.
Bumi Armada and Navigator Gas anticipate entering into definitive documentation for the Bluestreak CO2 joint venture by the end of the fourth quarter of 2024. The joint venture is subject to the execution of such definitive documentation, approvals by the respective boards of directors of Bumi Armada and Navigator Gas, applicable regulatory approvals and other customary closing conditions.
