MISC Berhad (MISC) secured an Approval in Principle (AiP) for their innovative Floating CO2 Storage Unit (FCSU) that aims to lead the way in enhancing the efficiency of the carbon capture and storage (CCS) value chain within the maritime industry, according to the company's release.
The AiP from DNV confirms the technical feasibility of the concept as well as initial conformity to the applicable rules, industry codes, and standards. Leveraging MISC's maritime expertise and SHI's shipbuilding as well as offshore engineering prowess, the FCSU is a dynamic and versatile solution that is crafted to meet the unique demands of diverse offshore-related CCS projects worldwide. It addresses a critical gap, particularly when CO2 emitters lack access to nearby sequestration sites, necessitating seamless maritime transportation and storage of CO2.
The FCSU can be deployed across multiple depleted oil and gas fields offshore that have been earmarked as potential CO2 storage sites. It introduces alternative approaches to carbon storage in comparison to the traditional pipeline method.
The FCSU serves a dual role by functioning either as an intermediate CO2 storage unit or, in tandem, as an injection vehicle (known as FCSU-i) for offshore CO2 reservoirs. Efforts are currently ongoing to explore a wider range of potential applications and for example, to include CO2 liquefaction facility, amplifying its utility and practicality.
Designed with a total storage capacity of 100,000 cubic meters and an injection capacity of 5 million metric tons per annum (MTPA), the FCSU’s scalability and storage capabilities make it suitable for a broad range of CCS projects in the maritime space.
MISC Berhad (MISC or the Group) is a global leader in delivering energy-related maritime solutions and services with more than 50 years of experience in the maritime industry. The Group’s fleet consists of more than 100 owned and in-chartered vessels comprising of Liquefied Natural Gas (LNG) and Ethane carriers, Petroleum and Product vessels, Floating Production Systems (FPS) as well as LNG Floating Storage Units (FSU) with a combined deadweight tonnage (dwt) capacity of more than 13 million tonnes.
Samsung Heavy Industries has successfully completed many of the world's first and largest shipbuilding and offshore EPC projects, with the sole aim of establishing global leadership in each market segment. Since its inception in 1974, SHI has secured orders for 1,416 ships and offshore facilities and successfully delivered 1,260 units as of February 28, 2023.