NYK, Pertamina team up on LCO2, LNG, and ship management

Japanese shipping company NYK and PT Pertamina International Shipping (PIS) have signed a memorandum of understanding (MoU) to collaborate in the field of liquefied carbon dioxide (LCO₂) and liquefied natural gas (LNG) and jointly establish a ship management company. 

PSI is a marine logistics subsidiary of PT Pertamina, a state-owned oil and gas company in Indonesia.

As informed, NYK aims to develop a strong cooperative relationship with PIS in the field of LCO₂ and LNG transportation. According to the partners, this is a priority for the Indonesian government and is expected to grow in the future towards a low-carbon and decarbonized society.

By jointly establishing a ship-management company, NYK plans to contribute to stable ocean transportation and create opportunities for training and employment for seafarers in the country.

Based on the strategic partnership agreements signed in 2022, NYK and PIS have agreed to collaborate in obtaining business opportunities through assessments and feasibility studies for the transboundary transportation of LCO₂ to and from Indonesia.

The two companies aim to offer LCO₂ transportation services for storage operators and CO₂ emitters like Pertamina.

Furthermore, NYK and PIS agreed to begin full-scale discussions on joint ownership of LNG carriers.

“Based on NYK’s more than 40 years of experience in owning and operating LNG carriers, we will work with PIS to meet the demand for LNG transport in Indonesia, where further expansion of LNG production and consumption is expected,” NYK noted.

By establishing a joint ship management company, the partners aim to build a stronger relationship and provide advanced ship-management services to meet the expected increase in demand for ships in the country.

To remind, Pertamina recently welcomed two new very large gas carriers (VLGCs) into the fleet, Pertamina Gas Caspia and Pertamina Gas Dahlia.