MISC and SHI’s floating CO2 storage unit wins DNV’s approval

Classification society DNV has issued an approval in principle (AiP) to MISC Berhad and Samsung Heavy Industries (SHI) for their floating CO2 storage unit (FCSU) that aims to enhance the efficiency of the carbon capture and storage (CCS) value chain within the maritime industry.

MISC and SHI jointly developed the FSCU concept following the signing of a memorandum of understanding (MoU) in January this year.

The feasibility of the concept as well as initial conformity to the applicable rules, industry codes and standards has now been confirmed with DNV’s AiP.

As explained, the FSCU is a dynamic and versatile solution that is crafted to meet the unique 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.

The unit is designed to have a total storage capacity of 100,000 cubic meters and an injection capacity of 5 million metric tons per annum (MTPA).

It can be deployed across multiple depleted oil and gas fields offshore that have been earmarked as potential CO2 storage sites. The unit also 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

MISC’s President & Group CEO, 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.”

SHI’s Head of Engineering Management, Vice President GJ Yoon noted: “SHI has various solutions in the pipeline including CO2 carriers to address era of low carbon. Whereas LCO2 carriers focus on transportation, FCSU can act as an offshore terminal and is capable of injecting CO2 into subsea wells with a topside facility. SHI will continue to spearhead developing solutions to meet CCS market demands based on abundant experience and technical expertise.”