MISC Berhad has secured an Approval in Principle (AiP) for a 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.
The jointly developed FCSU concept with Samsung Heavy Industries (SHI) is a culmination of the partnership between MISC and SHI which took root following the signing of a Memorandum of Understanding in January 2023. 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 experience and SHI’s shipbuilding and offshore engineering prowess, the FCSU is crafted to meet the 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.
MISC President and Group CEO, Capt Rajalingam Subramaniam, said: “Today, we move a step further in our collaboration to ‘build a better world’. Through our engagement with SHI and DNV, our team has been able to obtain the AiP for the FCSU solution in managing societal emissions. The FCSU is a result of our collective ambition to steer the maritime sector and other hard-to-abate sectors towards greener horizons. This aligns seamlessly with MISC’s long-term vision of safely, efficiently, and sustainably moving energy, further amplified by purposeful partnerships and an unwavering commitment to advancing a just energy transition. So, the solution is there, and we invite the hard-to-decarbonise industries to collaborate and do just for society and planet Earth.”
Key attributes of the FCSU are said to be:
- Agile: 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.
- Versatile: 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.
- Adaptable: Designed with a total storage capacity of 100,000 cubic meters and an injection capacity of 5m tonne/yr (MTPA), the FCSU’s scalability and storage capabilities make it suitable for a broad range of CCS projects in the maritime space.
SHI’s VP Head of Engineering Management, GJ Yoon said: “SHI has various solutions in pipeline including CO2 Carriers to address era of low carbon. Whereas LCO2 Carriers focus on transportation, FCSU can act as Offshore Terminal and capable of injecting CO2 into subsea wells with Topside facility. SHI will continue to spearhead developing solutions to meet CCS market demands based on abundant experience and technical expertise.”
Cristina Saenz de Santa Maria, Regional Manager South East Asia, Pacific and India, Maritime, DNV, said: “We are pleased to be awarding the AiP for this landmark project to MISC and SHI, signifying the compliance of this innovative unit with our classification rules. This AiP is a testament to the confidence and trust that the industry holds in DNV’s expertise and capabilities. We hope to continue this excellent collaboration with both parties in the areas of decarbonisation and new energy, with a focus to grow the regional CCS value chain towards a more sustainable future.”
Both MISC and SHI firmly believe that the FCSU concept will redefine the CCS landscape, setting a new benchmark for sustainable advancements. This partnership underscores a joint commitment to drive transformative change, aligning with global aspirations to mitigate carbon emissions and forge a path toward a greener future.
