KUALA LUMPUR (July 24): Bumi Armada Bhd's (KL:ARMADA) joint venture (JV) Bluestreak CO2 Ltd has partnered with Düsseldorf-based Uniper (UK) Ltd to explore the implementation of jetty-moored floating liquid carbon dioxide (CO2) storage facility and liquid CO2 carrier solution.
Bluestreak CO2 Ltd, a 50:50 JV company between Bumi Armada and Navigator Holdings Ltd, was established in June 2023 to provide CO2 shipping and injection solutions in the UK.
The MOU aims to support the UK government’s decarbonisation goals for the power sector by 2030, and facilitate the export of CO2 from Uniper’s proposed grain carbon capture project on the Isle of Grain, UK.
“The parties to the MOU anticipate that Bluestreak CO2, by leveraging the expertise and experience of Bumi Armada and Navigator Gas, could design, and ultimately implement, a comprehensive CO2 value chain,” it said.
The value chain will include liquid CO2 shuttle tankers designed for loading from and delivering to either a floating carbon and storage unit or a floating carbon, storage and injection unit.
The proposed system is expected to transport liquid CO2, providing buffer storage capability before the CO2 is injected into offshore storage aquifers or depleted oil and gas reservoirs. The process will involve controlled injection, surveillance, and management of the permanent storage locations.
Bumi Armada chief executive officer Gary Christenson said industry players need “an integrated approach to accelerate the reduction of GHG emission globally”.
“We, together with Navigator Gas, are excited to work with Uniper to design and, ultimately, work to implement sustainable and scalable solutions to capture and store their carbon emissions. We will continue to deliver innovative low carbon solutions as our commitment to decarbonise GHG emissions.” Gary added.
Uniper’s UK country chair Mike Lockett said the collaboration will play an important role in helping it identify a shipped solution to safely transfer the captured CO2 from grain for permanent offshore storage.
“Flexible CO2 transport solutions are needed to decarbonise essential industrial processes, which are not close to pipeline and subsea storage locations and will be critical to get first of a kind non-pipeline projects like Grain Carbon Capture into operation,” Lockett said.
Shares in Bumi Armada, which has been appreciated by 12% year-to-date, settled half a sen or 0.9% higher at 56 sen on Wednesday, valuing the company at RM3.32 billion.
Beside Bumi Armada, other energy-related companies that have ventured into emissions management include oil and gas firm Deleum Bhd (KL:DELEUM), who in March this year announced plans to promote methane emissions monitoring solutions with Australian-based LatConnect 60 Ltd.
Meanwhile, floating production storage and offloading (FPSO) operator Yinson (KL:YINSON) in October 2023 said that the company was looking to pilot an offshore carbon capture and storage plant on the FPSO Agogo in Angola, South Africa.
Separately, local-listed oil and gas producer Hibiscus Petroleum Bhd (KL: HIBISCS) is piloting technologies to decarbonise its own assets ahead of plans to explore carbon storage feasibility in one of its operating oilfields in Peninsular Malaysia.
Source: TheEdge - 25 Jul 2024
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YINSONCreated by edgeinvest | Sep 06, 2024
Created by edgeinvest | Sep 06, 2024
Created by edgeinvest | Sep 06, 2024
Created by edgeinvest | Sep 06, 2024
Created by edgeinvest | Sep 06, 2024