Participating in the World’s First Cross-Border CO₂ Transport and Storage Project

Mitsui O.S.K. Lines,  has been selected by Northern Lights JV DA , which operates the world’s first cross-border CO₂ transport and storage project, as the owner of two newly built 12,000m³ Ice Class LNG dual-fuel liquefied CO₂carriers for its business expansion.
On January 29, MOL concluded shipbuilding contracts with HD Hyundai Heavy Industries  and long-term charter contracts with Northern Lights. Starting around 2028, the vessels will transport CO₂ collected across Europe to a receiving terminal in Norway

Carbon Capture and Storage (CCS) solution, which separates and captures CO₂ and stores it stably deep underground, is an important pathway to realize decarbonized society. Liquefied CO₂ shipping plays a critical role in efficiently connecting capture sites with storage sites in the CCS value chain.
Northern Lights transports CO₂ collected across Europe by ship to the Øygarden terminal on Norway’s west coast, from where the CO₂ is exported via a 100-kilometer subsea pipeline and permanently stored about 2,600 meters beneath the seabed of the North Sea. This is the world’s first cross-border CO₂ transport and storage project. Northern Lights began full-scale operations in 2025, with a transport and storage capacity of 1.5 million tons of CO₂per year and plans to expand its capacity to a minimum of 5 million tons annually by 2028.

In hard-to-abate industrial sectors, the volume of CO₂ captured, transported by ship, and stored is expected to increase significantly. With a proven global share and track record in liquefied gas shipping, particularly in LNG carriers, MOL group continues to strengthen its capabilities in liquefied CO₂ shipping. In 2021, MOL invested in Larvik Shipping AS, a Norwegian ship management company with over 35 years of experience in liquefied CO₂ shipping in Europe and have continued to actively engage in this business. MOL is committed to meeting the growing demand for liquefied CO₂ shipping and contributing to the development of the CCS value chain as a trusted partner.

MOL Group’s vision is to take on evolving social needs-such as environmental conservation-through technological and service innovation, while developing various social infrastructure businesses in addition to shipping. This initiative aligns with our group vision and with one of the strategies in “MOL Group Environmental Vision 2.2”: expanding low-carbon and decarbonization business by leveraging the Group’s collective strengths. MOL Group strives for sustainable growth of people’s lives, society, and the planet, opening the way to a prosperous future from the blue ocean.