Provaris Energy Ltd (Provaris) and Yinson Production Offshore Pte Ltd (Yinson) have announced a binding joint development agreement for the development of storage tank solutions for the bulk storage and marine transportation of carbon dioxide (CO2).
Yinson and Provaris will evaluate the technical and economic viability of adapting Provaris’ proprietary tank design for compressed hydrogen, to develop alternatives for bulk-scale storage and transport of compressed and liquid CO2 (CO2 Tanks). The collaboration will also assess the potential for other hydrogen derivatives such as ammonia.
This collaboration combines Yinson’s experience in the construction of floating production, storage, and offloading (FPSO) vessels for the offshore production industry with Provaris' experience in creating class-level designs for bulk marine storage and transportation (H2Neo Carrier) of compressed gaseous hydrogen. As Yinson expands into the carbon capture and sequestration sector, this partnership will help develop cost-effective and scalable solutions for the storage and transport of CO2.
Currently, there is no ship transport of CO2 in a low pressure and temperature range suitable for long sailing distances and large cargo volumes. This collaboration aims to help develop a new CO2 tank design solution that will address current CO2 transit and storage limitations.
The development of CO2 storage and transport infrastructure is important for the widespread deployment of carbon capture, which is a pillar in meeting global emission targets. The design of the CO2 tanks is important for maximising the amount of CO2 that can be stored and transported in a single cargo.
Lars Gunnar Vogt, Yinson Production’s Chief Technical Officer, said: “We recognise the importance of carbon capture and storage in achieving global emission targets, and we're committed to playing a key role in this space.”