ABS, Daewoo Shipbuilding and Marine Engineering (DSME) and GasLog are joining forces to lead the development of carbon neutral shipping.
The three companies have committed to working together to develop an on-board CO2 capture and storage system (OCCS) by signing a joint development project (JDP) during the Posidonia International Shipping Exhibition.
This emission reduction technology returns CO2 from the exhaust gases to the vessel for storage through the process of absorption, regeneration and separation. The stored CO2, as a by-product, can then be safely discharged to shore facilities after entering the port.
The three companies will collaborate on the design of an optimal OCCS for an LNG carrier to be built by DSME and will verify the system through various risk analyzes and tests before installation and operation. At the same time, the project will seek approval in principle (AIP) from ABS for the OCCS system. The joint development of the OCCS is expected to be completed by the first quarter of 2023. ABS will guide the rules and regulations for the development of the OCCS and provide technical guidance and support. In particular, ABS will perform a series of risk assessments and oversee the final AIP evaluation process for this technology.
DSME received an order for four LNG carriers from GasLog last year. These vessels should be delivered sequentially from the first half of 2024. The actual installation of the OCCS on the LNG carrier should coincide with the construction. GasLog will undertake the technical requirements for the installation and operation of OCCS. They will also provide valuable vessel management know-how necessary for the evaluation of the OCCS design.
“Onboard carbon capture is going to be a key technology in the industry’s push to net zero. We are proud to be able to use our knowledge of OCCS to support these industry leaders in this historic project, which promises to significantly advance the adoption of this technology at sea,” said John McDonald, Executive Vice President and chief operating officer of ABS.
Mr. Karathanos, COO of GasLog, said, “Strong collaborations with industry leaders such as DSME and ABS are key to decarbonizing shipping. At GasLog, we strongly believe that onboard carbon capture will become one of the main methods to reduce emissions from shipping and help keep the global temperature increase to 1.5 degrees Celsius.
A DSME spokesperson said, “We are delighted to establish an environment-friendly technical cooperation venue in Greece, which is one of our biggest customers in the shipbuilding industry.”