South Korea’s Daewoo Shipbuilding & Marine Engineering has joined forces with Greek LNG shipper GasLog and classification society ABS to develop a carbon capture and storage system on board LNG carriers.
The partners signed a joint development agreement and plan to install such tech on four 174,000-cbm ME-GI LNG carriers GasLog ordered at DSME last year.
Peter Livanos-led GasLog will take delivery of these ships in 2024 and 2025.
The company also chartered these vessels to firms including two to Australia’s LNG producer Woodside and one ship to Japan’s trading house Mitsui & Co.
According to the joint statement, the partners plan to analyze and verify the operational risks of the onboard carbon capture and storage system (OCCS) to seek an approval in principle.
This emissions reduction technology returns CO2 from the exhaust gas back to the ship for storage by the process of absorption, regeneration and separation.
The stored CO2, as a form of byproduct, ends in shoreside facilities after the ship enters a port, the statement said.