NYK, PIS pen LCO2 and LNG agreement

NYK, PIS ink MoU for cooperation in LCO2 and LNG

NYK and PT Pertamina International Shipping (PIS) have signed a Memorandum of Understanding (MoU) to collaborate in the field of liquefied carbon dioxide (LCO2) and liquefied natural gas (LNG).

As part of the collaboration, the partners will jointly establish a ship management company to provide advanced ship-management services to meet the expected increase in demand for ships.

NYK aims to develop a strong cooperative relationship with PIS in the field of LCO2 and LNG transportation, which is a priority for the Indonesian government and is expected to grow in the future towards a low-carbon and decarbonised society.

The shipping company also plans to contribute to stable ocean transportation and create opportunities for training and employment for seafarers in the country.

READ: NYK, GCMD address continuous biofuel use

Under the agreement, the signatories will collaborate on business opportunities through feasibility studies for transboundary LCO2 transportation to and from Indonesia, aiming to offer LCO2 transport services for storage operators and CO2 emitters.

NYK and PIS agreed to begin full-scale discussions on joint ownership of LNG carriers. NYK will work with PIS to meet the demand for LNG transport in Indonesia, where further expansion of LNG production and consumption is expected.

Just recently, NYK became a member of the Smart Freight Centre (SFC), an international non-profit organisation that aims to reduce greenhouse gas (GHG) emissions in the logistics sector.

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