Project for Technology Development and Market Formation in the CCUS Value Chain Aimed at Reducing CO2 Emissions

• Feasibility study launched with the French broad energy company TotalEnergies.

• Project part of MHI Group’s effort to expand businesses for the CCUS value chain, utilizing the advanced gas handling technologies of Mitsubishi Shipbuilding.

 Mitsubishi Shipbuilding, a part of Mitsubishi Heavy Industries (MHI) Group, has initiated a feasibility study with TotalEnergies for the development of a liquefied CO2 (LCO2) carrier. By furthering the development of technologies to reduce the volume of CO2 emissions in the oil and gas industry, MHI Group aims to strengthen its businesses supporting strategic efforts for the energy transition.

MHI Group is pursuing a range of measures for a decarbonized society, and establishing a CO2 ecosystem is a key part of that effort. Further, carbon dioxide capture, utilization, and storage (CCUS) are attracting attention worldwide as an effective means to achieve decarbonization. LCO2 carriers play a pivotal role in transporting CO2 from its emission sources to storage sites or facilities for utilization, and demand for these vessels is expected to increase in the future

Mitsubishi Shipbuilding is actively pursuing the commercialization of LCO2 carriers, and this project is expected to make a significant contribution to the establishment of a CO2 ecosystem in the CO2 transport sector, which will be an essential component of the CCUS value chain.

MHI Group is aiming to contribute to the construction of the CCUS value chain that spans the sea and land by bringing together the knowledge of the Group companies, such as the advanced gas handling technologies accumulated by Mitsubishi Shipbuilding in building liquefied petroleum gas (LPG) carriers and liquefied natural gas (LNG) carriers, and the CO2 capture technologies of Mitsubishi Heavy Industries Engineering which has the world’s leading market share.

Bruno Seilhan, Vice President CCUS at TotalEnergies, said: “We are pleased to partner with Mitsubishi, whose expertise in shipbuilding is well proven, in order to study large tonnage liquid CO2 carrier opportunities. Such vessels will be key to accommodate the expected surge in transported CO2 volumes for geological storage triggered by the acceleration in net zero carbon targets worldwide and to meet world industrial emitters’ needs. It is fully aligned with our Climate Ambition to get to net zero emissions by 2050.”

Toru Kitamura, President of Mitsubishi Shipbuilding said: “We are pleased that TotalEnergies, which plays an important role in the world’s leading CCUS value chain market, has expressed high regard for our technology and experience. We believe that LCO2 carriers are an effective solution for achieving a decarbonized world. We will continue to actively pursue technology development in cooperation with partners seeking to achieve decarbonization using LCO2 carriers, with the aim of market formation for the CCUS value chain.”

Going forward, through this joint project with TotalEnergies, MHI Group will continue to develop and offer a wide range of technologies related to the LCO2 carriers essential to building a CCUS value chain, and contribute to the realization of a decarbonized society.