Mitsui O.S.K., Japan's second-largest shipping company. Lines (MOL), Malaysia's Misc Bhd, and Petroliam Nasional Bhd(Petronas), have formed a joint-venture. It said Tuesday that it will operate Liquefied carbon dioxide (LCO2) carriers.

MOL announced that the joint company Jules Nautica Sdn. Bhd will own and develop LCO2 carriers that play an important role in transporting LCO2 into designated storage locations and supporting the advancements of carbon capture storage (CCS).

MOL reported that the three companies completed the Front-End Engineering Design for a LCO2 carrier of 62,000 cubic meters.

The JV, which is focused on completing the CCS Value Chain in the Asia Pacific Region, will also play an important role in supporting future CCS Projects," the statement said. (Reporting and editing by Susan Fenton in Bengaluru, Anushree mukherjee from Bengaluru)

(source: Reuters)