Chiyoda Corporation, NYK Line, and Knutsen NYK Carbon Carriers (KNCC) have signed a memorandum of understanding to collaborate on global carbon capture and storage (CCS) projects. This agreement focuses on expanding CCS business opportunities in Japan and overseas, including optimizing the transportation of liquefied carbon dioxide. The collaboration will encompass multiple project development stages, from concept and feasibility studies to pre-FEED, FEED, engineering, procurement, and construction. The companies will leverage a 2024 joint study that assessed costs and timelines for various liquefied CO2 transport options. Chiyoda will concentrate on onshore terminal studies, NYK Line on marine transportation and project coordination, and KNCC on offshore transportation and floating solutions.