Yinson Production and “K” LINE ENERGY SHIPPING (UK) LIMITED (KLES), a London-based subsidiary of Kawasaki Kisen Kaisha, Ltd. (“K” LINE), have entered into an agreement to jointly develop and market solutions for the transportation and injection of liquefied CO2, leveraging each party’s respective core expertise. Under the memorandum of understanding (MoU), Yinson Production and KLES will jointly develop and market a floating storage and injection unit (FSIU) and a liquefied CO2 carrier. The collaboration will target carbon capture and storage (CCS) projects being developed mainly in Europe.
For CCS projects worldwide, offshore sequestration is a safe and efficient way of permanently storing large volumes of CO2. FSIUs are well suited to serve as a safe, reliable and cost-efficient solution for offshore CCS projects where it is difficult to secure sufficient land for an onshore CO2 receiving terminal, or where the distance between a receiving terminal and the offshore storage site would require an extended pipeline. As such, FSIUs are being considered for several projects, including the Havstjerne CCS project in Norway. The Havstjerne carbon storage project is 40% owned by Stella Maris CCS, a unit of Yinson Production.
Yinson Production operates a fleet of floating production, storage, and offloading (FPSO) and floating storage and offloading (FSO) vessels and has extensive expertise in engineering, design, and operations in the offshore energy sector. Since 2021, Yinson Production has been steadily developing its carbon value chain, with direct investment in carbon capture technologies.
The “K” LINE Group has a long history and diverse track record in owning, operating and managing liquefied gas carriers. Since 2024, KLES has managed two liquefied CO2 carriers for the world’s first commercial CO2 transport and storage service.
The thriving partnership that “K” LINE and Yinson Production have cultivated began in 2018 in the FPSO sector. Both parties co-own FPSOs Anna Nery and John Agyekum Kufuor in Brazil and Ghana, respectively. Through this MoU, the companies further strengthen their partnership and leverage their combined expertise to develop integrated solutions for the transportation and injection of liquefied CO2 in the CCS value chain. This initiative supports the decarbonisation of industries and society.
Lars Gunnar Vogt, Chief Technical Officer of Yinson Production, said: “This collaboration with “K” LINE builds on our longstanding relationship and complements our deep knowledge of offshore marine systems. By combining our FPSO and offshore engineering expertise with “K” LINE’s proven CO2 shipping capabilities, we are well positioned to contribute to the development of innovative services that will enable large-scale carbon transport and storage. This provides a one-stop solution to help industrial emitters achieve their decarbonisation targets. We look forward to supporting the growth of the CCS sector and accelerating progress toward global decarbonisation.”
Kei Onishi, Corporate Officer of “K” LINE, said: “Our collaboration with Yinson Production builds on a strong foundation established through FPSO business and reflects our shared commitment to enabling scalable CCS solutions. By combining their offshore engineering expertise with our experience in CO2 shipping, we are developing an offshore unloading capability and bespoke transport solutions to serve a broader range of CO2 storage sites. This will complement traditional port-to-port transport models for CCS Value Chain and offer emitters greater flexibility in meeting their decarbonisation goals.”
In line with “K” LINE Environmental Vision 2050, its long-term environmental policy, the “K” LINE group is actively promoting various initiatives aimed at supporting its own decarbonisation efforts and those of society. “K” LINE will drive its CCS business with the aim of achieving a sustainable society and enhancing its corporate value.
