JX Nippon Oil & Gas Exploration Corporation
Nippon Yusen Kabushiki Kaisha (NYK)
Knutsen NYK Carbon Carriers AS
JX Nippon Oil & Gas Exploration Corporation (JX), Nippon Yusen Kabushiki Kaisha (NYK) and its affiliate Knutsen NYK Carbon Carriers AS (KNCC) signed a memorandum of understanding (MoU) on March 15 to jointly study the optimization of carbon dioxide (CO2) liquefaction and storage processes using KNCC's proprietary technology Cargo Tank Cylinders (CTC).
This study aims to optimize the CO2 transportation system using CTC by utilizing the characteristics of the EP (elevated pressure) method, which stores and transports liquefied CO₂ at higher temperatures and pressures than the LP (low pressure) and MP (medium pressure) methods. This study is expected to solve the problems in the CCUS value chain, such as capital investment, energy consumption, and environmental impact. The three companies will conduct optimization verification by the latter half of 2024 using CTC's demonstration facility "test rig" owned by KNCC in Norway and, based on the verification results, will study the possibility of social implementation in concrete terms.
KNCC’s demonstration facility (CTC test rig)
Scope of each company
| Company | Scope |
| JX | Provision of knowledge and process validation related to CCUS projects |
| NYK | Formulation of overall policy and evaluation of feasibility and appropriateness of the project |
| KNCC | Providing technical and legal expertise on liquefied CO₂ carriers Implementation of liquefaction process verification of EP method |
Company Overviews
JX Nippon Oil & Gas Exploration Corporation
Head office: Chiyoda-ku, Tokyo, Japan
Representative: Toshiya Nakahara, President and CEO
Website: https://www.nex.jx-group.co.jp/english/
Nippon Yusen Kabushiki Kaisha (NYK)
Head office: Chiyoda-ku, Tokyo, Japan
Representative: Takaya Soga, President
Website: https://www.nyk.com/english/
Knutsen NYK Carbon Carriers AS
Head Office: Haugesund, Norway
Representative: Anders Lepsøe, CEO
Website: https://www.kn-cc.com
*Overview of CCUS value chain
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