ship.energy

NYK unveils decarbonisation strategy at Indonesia CCS forum

Nippon Yusen Kabushiki Kaisha (NYK) showcased its decarbonisation strategy at the International & Indonesia CCS Forum 2024, held from July 31 to August 1.

This marked NYK’s inaugural participation in the forum, which promotes global cooperation on CO2 capture and storage (CCS) technology. The event, now in its second year, was supported by Indonesia’s Coordinating Ministry for Maritime and Investment Affairs.

The forum gathered industry representatives to discuss the current state of CCS technology. NYK Executive Officer Tsutomu Yokoyama participated in a panel discussion on the second day, engaging with six other industry leaders from Indonesia and abroad.

Yokoyama highlighted NYK’s decarbonisation strategy and commitment to CCS projects, stressing the importance of cost reduction to advance CCS initiatives. He noted that marine transportation costs are a significant part of the CCS value chain and emphasised the need to identify the most economical methods for transporting liquefied carbon dioxide (LCO2).

Indonesia, a major oil and natural gas producer in Southeast Asia, is investing heavily in CO2 storage facilities, aiming to become Asia’s largest storage operator. The Indonesian government’s strategy involves attracting CO2 landfill demand from neighbouring regions.

In June, NYK signed a memorandum of understanding with a marine logistics subsidiary of Indonesia’s state-owned oil and gas company to collaborate on LCO2 and LNG transportation.

Image: NYK

Tom Barlow-Brown