Samsung Heavy, MISC to jointly develop floating CO2 storage units

As carbon capture and storage technology advances, related markets are also expanding fast worldwide

Samsung Heavy, MISC to jointly develop floating CO2 storage units
Ik-Hwan Kim 1
2023-01-19 16:57:58 lovepen@hankyung.com
Carbon neutrality

South Korea's major shipbuilder Samsung Heavy Industries said on Thursday that it has signed an agreement with MISC Berhad, a Malaysian offshore energy solution company, to jointly develop floating carbon dioxide storage units (FCSUs).

The FCSU is a new-concept offshore facility that stores carbon dioxide captured on land terminals in depleted offshore oil or gas wells.

As a provider of offshore solutions for the carbon capture and storage (CCS) value chain ranging from CO2 capture-transport-storage, Samsung Heavy Industries will develop FCSU-I with an injection valve on top as well as FCSU with the Malaysian company.

In addition, the company will build FCSU-L, which is equipped with a liquefaction facility, and move into the CCS market after establishing a development strategy.

"We will develop various offshore solutions that meet the needs of the CCS market in partnership with MISC," said Yoon Byeong-hyeop, head of the offshore technology sales team at Samsung Heavy Industries.

Write to Ik-Hwan Kim at lovepen@hankyung.com
#Samsung Heavy Industries #SHI #MISC Berhad #floating carbon dioxide storage units #FCSUs #korea samsung heavy ccs fcsu

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