On March 4, NYK participated in a seminar comparing the three modes of the carbon capture, utilization, and storage (CCUS) value chain. The seminar was hosted by the Global CCS Institute (GCCSI), an international think tank on CCUS, and held at the NS Toranomon Building in Tokyo. NYK Corporate Officer Tsutomu Yokoyama and Green Business Group Deputy General Manager Takahiro Rokuroda attended.

Yokoyama gave the opening remarks, and Rokuroda discussed three possible CCUS technologies, i.e., EP (elevated pressure), MP (medium pressure), and LP (low pressure) (hereafter referred to as the "three methods"). His presentation included a quantitative assessment of the cost and delivery time for the three methods and issues related to their implementation in society. The audience, including participants from Japan and overseas joining online, engaged in a lively question-and-answer session on evaluating the entire value chain and issues related to each method.

NYK, together with Chiyoda Corporation and NYK's affiliate Knutsen NYK Carbon Carriers AS (KNCC), have conducted a quantitative comparison of the entire CCUS value chain for each of the three methods, including the onshore facilities for temporary storage of liquefied CO₂ and the marine transportation portion.

This seminar was broadcast online, and including the participants at the venue, 486 people from companies and organizations in various industries in 25 countries attended.

In his opening remarks, Yokoyama emphasized that NYK would accelerate cooperation with Chiyoda and other companies involved in CCUS to build a value chain.

In his presentation, Rokuroda explained the marine transportation part of the project and indicated that NYK will identify the most appropriate method for the social implementation of CCUS based on the advantages and disadvantages of each method.

Additionally, Atsushi Tamagawa, general manager of Gas & LNG Process Engineering Department of Chiyoda, gave a presentation on onshore facilities.

The seminar was supported by Japan Organization for Metals and Energy Security (JOGMEC), Japan Carbon Frontier Organization (JCOAL), Research Institute of Innovative Technology for the Earth (RITE), and Japan CCS Co., Ltd. Video clips and materials of the seminar will be available on the GCCSI website at a later date.

The NYK Group has launched its new "NYK GREEN EARTH" brand to emphasize the Group’s ESG efforts to create new value initiatives for low carbon and decarbonization through green businesses, such as those related to offshore wind power generation. The Group will encourage new value creation as a sustainable solution provider to strongly promote ESG management.

* GCCSI website

** Overview of CCUS value chain