Seaborne trade in CO₂ is emerging
Japanese firms explore carbon exports to Australia
Mitsui OSK Lines and JX Nippon Oil eye shipments to South Australia as cross-border emissions trade routes in Asia-Pacific open up
Shipping company Mitsui OSK Lines (MOL) and Japan’s JX Nippon Oil & Gas Exploration have signed a memorandum of understanding to potentially capture CO₂ from industrial emitters in Japan for shipment to storage sites in Australia, creating a cross-border CCS value chain. The agreement focuses on the capture of emissions from refineries and other industrial sites in Japan. Liquid CO₂ would then be transported by carrier to the deepwater Port of Bonython in South Australia for injection into storage. MOL will select a liquefied CO₂ carrier suitable for conditions at ports in Japan and Australia, and define the distance, volume and estimated costs of shipping. JX Nippon will manage the cost
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