PETRONAS CCS Ventures Sdn. Bhd. (PCCSV) MISC Berhad (MISC), and Mitsui O.S.K. Lines, Ltd., (MOL) today announced the incorporation of a strategic joint venture (JV), Jules Nautica Sdn. Bhd. This JV will lead the development and act as the ultimate owner of Liquefied Carbon Dioxide (LCO₂) carriers, which are critical for transporting LCO₂ to designated storage sites as part of advancing carbon capture and storage (CCS) solutions.
Illustration of the LCO₂ Carrier
The three parties have recently completed the Front-End Engineering Design (FEED) for a 62,000 cubic meter LCO2 carrier, which was awarded to Shanghai Merchant Ship Design and Research Institute (SDARI). In December 2024, this jointly developed design received the General Approval for Ship Application (GASA) certification from DNV, establishing it among the most developed Low Pressure Low Temperature LCO2 carrier designs in the industry.
Representatives from PETRONAS, MOL and MISC collectively form the Board of Directors of Jules Nautica. From left to right: Daisuke Fujihashi (MOL), Nora’in Md Salleh (PETRONAS) and Ron Wood (MISC)
The JV aims to become a leading owner of LCO2 carriers, facilitating the safe and efficient transportation of LCO2 to designated CO₂ storage sites. Focused on supporting future CCS projects across the Asia Pacific region, the JV will also play a key role in completing the CCS value chain. Through strategic commercial agreements with CO2-emitting industries and storage companies, this partnership will provide a critical cross-border solution to meet growing environmental and regulatory needs.
Emry Hisham Yusoff, PCCSV’s Chief Executive Officer added, “This joint venture marks a pivotal step forward in our collective mission of advancing decarbonisation efforts in the region. By leveraging the strengths of PCCSV, MISC, and MOL, we are progressing the development of LCO2 carriers and working towards more efficient shipping solutions. This collaboration highlights our focus on responsible innovation.”
source: MISC
source: MISC
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