Mitsui O.S.K. Lines,  and The Kansai Electric Power  announced the signing of a Memorandum of Understanding  for a study of marine transportation for the development of a Carbon dioxide Capture and Storage  value chain.

CCS is expected to be one of the most effective solutions to realize a low-carbon/decarbonized society. Based on the MoU, MOL and KEPCO will collaborate on the development of a CCS value chain consisting of separation, capture, transportation, injection and storage of CO₂ emitted from KEPCO’s thermal power plants, both companies will study marine transport of liquefied CO₂ to potential storage sites.

MOL set out its plan to achieve net zero GHG emissions by 2050 through concerted group-wide efforts in “MOL Group Environmental Vision 2.1.” Through the MoU, MOL Group will further accelerate its efforts in the liquefied CO₂transport business to contribute to the realization of a low-carbon/decarbonized society.