Nippon Yusen Kabushiki Kaisha (NYK) and its affiliate Knutsen NYK Carbon Carriers AS (KNCC) have signed a memorandum of understanding with PETRONAS CCS Solutions (PCCSS), a subsidiary of Petroliam Nasional Berhad (PETRONAS). The MoU was announced on December 23, 2025, and formalizes the launch of a joint feasibility study to evaluate the technical and commercial viability of a carbon dioxide capture and storage (CCS) value chain based on the Elevated Pressure (EP) method.

The study will focus on cross-border liquefied carbon dioxide (LCO2) marine transportation and will also cover temporary storage and offshore injections into subsurface reservoirs. The collaboration aims to evaluate the potential to establish a CCS value chain in Southeast Asia for cross-border commercialization.

Elevated Pressure Technology Details

The Elevated Pressure (EP) method at the center of this study was developed by KNCC to transport LCO2 at ambient temperatures and elevated pressures, specifically at 0 to 10 degrees Celsius and 34 to 45 barG. This proprietary LCO2-EP technology integrates liquefaction, onshore storage, floating facilities, and shipping into a comprehensive solution designed to enhance CCS efficiency and flexibility.

KNCC's technology is positioned as providing cost-effective transport options throughout the entire CCS value chain, offering what the company describes as flexibility and low-cost options for the CCS industry.

Company Leadership Statements

Masaki Ono, General Manager of NYK's Offshore Business Group, stated that through this collaboration with PCCSS, NYK aims to contribute to the development of a cross-border CCS value chain in Malaysia, which has the potential to serve as a CCS hub. Ono emphasized NYK's track record of developing comprehensive logistics businesses in Japan and overseas as a foundation for this initiative.

Anders Lepsoe, Chair of the Board at Knutsen NYK Carbon Carriers AS, described the MoU as representing a major milestone in the company's mission to enable safe, scalable, and efficient maritime LCO2 transport. Lepsoe characterized KNCC's LCO2-EP technology as a game-changer for the CCS industry.

Partner Company Profiles

NYK Line, founded in 1885, operates as a global logistics company specializing in marine transportation, including bulk energy and other commodities. The company operates one of the world's largest transportation networks and owns a diverse fleet of car carriers, container carriers, and energy carriers. In recent years, NYK has actively entered new business areas, including the decarbonization business, leveraging knowledge and technology cultivated over decades in shipping.

Knutsen NYK Carbon Carriers AS positions itself as a global leading company in the carbon capture and storage value chain, specializing in the safe, scalable, and efficient transport of liquefied CO2. The company's proprietary LCO2-EP technology serves as the foundation for its comprehensive CCS solutions.

PETRONAS CCS Solutions Sdn. Bhd. was established to conduct CCS business activities and to develop, own, and operate CCS infrastructure in Malaysia. The company's activities include geological studies and appraisals, with the intention of establishing a regional and global footprint as part of its growth aspirations. PCCSS is committed to providing solutions that support cleaner energy, catalyze economic growth, and contribute toward climate action in realizing PETRONAS's Net Zero Carbon Emissions pathway, while positioning Malaysia as the regional CCS hub.

The collaboration represents an intersection of maritime logistics expertise from NYK and KNCC with PETRONAS's energy infrastructure capabilities and regional positioning in Southeast Asia. The feasibility study will examine the technical and commercial aspects of implementing cross-border LCO2 transportation systems using the specialized EP method technology.

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