MOL and KEPCO to study CO2 Ocean Transport for Development of CCS Value Chain

Mitsui O.S.K. Lines, Ltd. (MOL) and The Kansai Electric Power Co., Inc. (KEPCO) announced the signing of a Memorandum of Understanding (MoU) for a study of marine transportation for the development of a Carbon dioxide Capture and Storage (CCS) 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 CO2 transport business to contribute to the realization of a low-carbon/decarbonized society.

[MOL Group 5 Sustainability Issues]

MOL Group will contribute to realizing a sustainable society by promoting responses to sustainability issues, which are identified as social issues that must be addressed as priorities through its business.

We anticipate this initiative to contribute especially to the realization of "Safety & Value-Provide added value through safe transportation and our social infrastructure business-" ,"Environment -Conservation for Marine and global environment-" and "Innovation -Innovation for development in marine technology-".