Growth of CO2 Carriers for Carbon Capture and Storage Initiatives
The CO2 carrier shipping segment is expanding to support carbon capture and storage (CCS) efforts globally. Key developments include commercial operations starting in 2025 and increased capacity projections to meet net-zero targets.
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The emerging sector of CO2 carriers is advancing rapidly, with the Northern Lights partnership, comprising Equinor, Shell, and TotalEnergies, launching commercial operations in 2025, initially with a capacity of 1.5 million tonnes annually. Expansion plans aim for 5 million tonnes by 2028, bolstered by new collaborations with Kawasaki Kisen Kaisha, MISC Berhad, and Mitsui O.S.K.
Lines for additional vessels. The Carbon Destroyer 1, a shuttle carrier for Project Greensand by Royal Wagenborg, is set to operate between Esbjerg, Denmark, and offshore storage sites, handling 600,000 tonnes of CO2 annually.
Japan's Shin Kurushima Sanoyasu Shipbuilding received Approval in Principle for a CO2 transport vessel concept that integrates with undersea storage facilities. These developments align with the urgency to facilitate CO2 transport and storage to achieve net-zero emissions by 2050.
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