Nippon Yusen Kabushiki Kaisha (NYK) participated in International & Indonesia CCS Forum 2024 from July 31 to August 1, an event to promote international discussion and cooperation on carbon dioxide (CO₂) capture and storage (CCS)* technology. This was NYK’s first participation in this forum, held for a second consecutive year in Jakarta, Indonesia.

Supported by the Coordinating Ministry for Maritime and Investment Affairs of the Republic of Indonesia, the event brought together leading experts, policymakers, and industry representatives in the CCS field from across the globe to exchange perspectives on the current landscape, challenges, and potential advancements in CCS technology.

NYK Executive Officer Tsutomu Yokoyama participated in a panel discussion on the event's second day and engaged in lively discussions with six industry participants from Indonesia and abroad.

After explaining our decarbonization strategy and commitment to CCS projects, Yokoyama emphasized that cost reduction is the most important factor in promoting CCS. Since the costs involved in marine transportation are part of the entire value chain, he argued that it is necessary to determine the best transportation method for liquefied carbon dioxide (LCO₂) with stakeholders based on the overall economics.

Indonesia is one of Southeast Asia’s largest producers of oil and natural gas. The Indonesian government is actively investing in constructing CO₂ storage facilities. It plans to become the largest storage operator in Asia by attracting demand for CO₂ landfills from the surrounding areas.

In November 2023, NYK released the NYK Group Decarbonization Story and announced a GHG emissions reduction target for the entire NYK Group. NYK has also contributed to Indonesia's maritime industry by appointing Indonesian captains and chief engineers to NYK-operated LNG carriers. In June this year, NYK signed a memorandum of understanding (MoU) with a marine logistics subsidiary of a state-owned oil and gas company in Indonesia to collaborate in the fields of LCO₂ and liquefied natural gas (LNG) and jointly establish a ship-management company. Through collaboration in the transportation business, we will develop a strong cooperative relationship with the Indonesian government and companies toward a low-carbon and decarbonized society, and by jointly establishing a ship-management company we will contribute to stable ocean transportation and create opportunities for training and employment for seafarers in the country.

Title: International & Indonesia CCS Forum 2024
Date: July 31 to August 1
Host: Indonesia CCS Center
Website: https://iiccsforum.com/



* CCS (Carbon Capture and Storage) is a process that captures CO₂ released from thermal power plants and factories, etc. and stores it in a stable underground geological formation. In addition to CCS, Carbon Capture, Utilization and Storage (CCUS) includes the process of using CO₂ in the production process of crops, chemicals, and construction materials. LCO₂ carriers play an important role in both processes.