Samsung Heavy, MISC Collaborate to Develop 'Floating Carbon Dioxide Storage Facility'

Development of Injection Equipment Mounted Products
Establishment of Liquefaction Equipment Development Strategy

[Asia Economy Reporter Choi Seoyoon] Samsung Heavy Industries announced on the 18th that it signed a Memorandum of Understanding (MOU) with local shipping company MISC Berhad (hereinafter MISC) in Kuala Lumpur, Malaysia, to develop a floating carbon dioxide storage facility.

The Floating CO2 Storage Unit (FCSU) is a new concept offshore facility that stores carbon dioxide captured at onshore terminals in depleted offshore oil and gas fields.

As a marine solution provider necessary for the CCS (Carbon Capture and Storage) value chain, which includes carbon dioxide capture, transportation, and storage, Samsung Heavy Industries will develop the FCSU and the FCSU-I, equipped with injection facilities on top, together with MISC. In addition, Samsung Heavy Industries plans to establish a development strategy for the FCSU-L, which is equipped with liquefaction facilities, to actively participate in the CCS market.

Currently, there are more than 100 CCS projects under development or review worldwide, including in Malaysia.

To achieve 'global carbon neutrality,' alongside the development of green energy, global companies are increasingly interested in CCS technology that can remove emitted carbon dioxide.

Yoon Byung-hyup, Head of Marine Technology Sales Team at Samsung Heavy Industries, said, "Taking this cooperation with MISC as an opportunity, we will develop various marine solutions that meet the needs of the CCS market."

Meanwhile, Samsung Heavy Industries has also been participating in the joint development cooperation of the Shepherd CCS project, a carbon capture-transport-storage project between Korea and Malaysia, since last year.