June 17, 2025
Petronas CCS Ventures (PCCSV), MISC Berhad, and Mitsui O.S.K. Lines (MOL) have formed a joint venture named Jules Nautica Sdn. Bhd. to lead the development and ownership of liquefied carbon dioxide (LCO₂) carriers.
As explained, these vessels are essential for transporting captured CO₂ to designated storage sites, playing a key role in advancing carbon capture and storage (CCS) solutions. The partners recently completed front-end engineering design for a 62,000 m³ LCO₂ carrier, developed by SDARI, which received general approval for ship application (GASA) from DNV.
The joint venture aims to become a leading owner of LCO₂ carriers to support CCS projects across the Asia Pacific region. It will enable cross-border transportation of CO₂ and complete the CCS value chain through partnerships with emitting industries and storage companies, addressing growing regulatory and environmental demands.
Emry Hisham Yusoff, CEO of PCCSV, said the JV represents a pivotal step in regional decarbonisation efforts. Meanwhile, Zahid Osman, president and group CEO of MISC, highlighted the importance of collaboration in delivering low-carbon solutions.
Additionally, Takeshi Hashimoto, president and CEO of MOL, emphasized the JV’s role in enabling cross-border CCS and contributing to a carbon-neutral society.
To remind, “K” Line Energy Shipping (UK) Limited (KLES) has signed a memorandum of understanding (MoU) with Yinson Production to jointly develop and market solutions for transporting and injecting liquefied CO2.
