NYK and Pertamina Sign MoU for Collaboration in LCO2 and LNG Transportation

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On June 20, NYK and PT Pertamina International Shipping (PIS), a subsidiary of Indonesia’s state-owned oil and gas company PT Pertamina (Persero), signed a memorandum of understanding (MoU) to collaborate in the fields of liquefied carbon dioxide (LCO2) and liquefied natural gas (LNG). They also agreed to establish a ship management company. The signing ceremony took place at Pertamina’s headquarters in Jakarta, Indonesia, and was attended by Pertamina President Nicke Widyawati, PIS President Yoki Firnandi, and NYK Managing Executive Officer Hironobu Watanabe.

Key Agreements of the MoU

  1. LCO2 Transportation Agreement
    • Objective: Collaborate on obtaining business opportunities through assessments and feasibility studies for transboundary LCO2 transportation to and from Indonesia.
    • Target Customers: Storage operators and CO2 emitters, including Pertamina.
  2. LNG Transportation Agreement
    • Objective: Begin full-scale discussions on the joint ownership of LNG carriers to meet the increasing demand for LNG transport in Indonesia.
    • Experience: Leverage NYK’s 40+ years of experience in owning and operating LNG carriers.
  3. Establishment of a Ship-Management Company
    • Objective: Jointly establish a company to provide advanced ship-management services, ensuring stable ocean transportation and creating opportunities for seafarer training and employment in Indonesia.

Background and Strategic Goals

  • Indonesia’s Role: One of Southeast Asia’s largest oil and natural gas producers, actively investing in CO2 storage facilities with a potential capacity of 572 billion tons.
  • Government Plans: Aim to become Asia’s largest storage operator by attracting CO2 landfill demand from surrounding areas.
  • Environmental Commitment: The MoU supports Indonesia’s low-carbon and decarbonized society goals by enhancing LCO2 and LNG transportation.
  • Seafarer Training: NYK’s long-term focus on training Indonesian seafarers, including appointing Indonesian captains and chief engineers, aligns with this initiative.

Comments from Key Executives

  • Nicke Widyawati, President Director & CEO, Pertamina: Expressed pride in the signing ceremony and eagerness to accelerate joint business discussions with NYK.
  • Yoki Firnandi, CEO, PIS: Highlighted the MoU as a symbol of leadership in LCO2 transportation and the importance of NYK’s technology and expertise for regional growth.
  • Hironobu Watanabe, Managing Executive Officer, NYK: Emphasized the commitment to supporting PIS’s advancement and contributing to Indonesia’s maritime industry and low-carbon goals.

Future Collaboration

NYK will continue collaborating with PIS in various areas, including LNG transportation and the carbon capture, utilization, and storage (CCUS) business, to support Indonesia’s development and the realization of a carbon-neutral society.

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Source: nykline.com