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“K” LINE enters into charter contracts with Northern Lights for third liquefied CO2 vessels

Today, Northern Lights JV DA and Kawasaki Kisen Kaisha, Ltd. (“K” LINE) signed Bare Boat Charter and Time Charter contracts for the management of the third CO2 ship. This follows the formerly signed contracts for managing the first two 7,500 m3 liquefied CO2 ships*1, in Northern Lights’ four ship fleet, that will be delivered in 2024.

The London-based subsidiary “K” LINE LNG Shipping (UK) Ltd., will manage the three ships, facilitating the transportation of liquefied CO2 from Northern Lights customers based in Norway, Denmark, and Netherlands, to Northern Lights’ CO2 receiving terminal in Øygarden, Norway, from where the CO2 will be injected into the offshore reservoir for safe and permanent storage.

The Signing Ceremony
From left:
Northern Lights JV DABørre Jacobsen (Managing Director)
“K” LINE:Satoshi Kanamori (Managing Executive Officer)

“We are pleased to expand our partnership with “K” LINE, a ship operator with extensive experience in liquefied gas transport and a strong safety and environmental track record. These ships will be shuttling between our customers in Northwest Europe and the Northern Lights’ onshore facilities, each transporting over 400,000 tonnes CO2 annually”, said Børre Jacobsen, Managing Director of Northern Lights.

In December 2022, “K” LINE was awarded the ship management contracts of the two first Northern Lights ships, which are currently 75% completed and will be delivered later this year.

“K” LINE LNG Shipping (UK) Ltd. is working on an operation manual and commissioning protocol and cooperating with relevant parties such as terminal operators and port authorities.

In parallel, a crew training program is being implemented to ensure safe and reliable operation.

“We are delighted to successively undertake ship management for the third Northern Lights vessel. We have already set up a dedicated team for CO2 ship management in “K” LINE LNG Shipping (UK) Ltd. in London for the first and second vessels and believe that the preparation for prior vessels will be further accumulated with the additional vessel in the fleet. Having the experience of building up the team and operational procedure, we are determined to contribute to the world’s first CCS project by Northern Lights.”, said Yukikazu Myochin, President and CEO of “K” LINE.

Northern Lights is developing a ship-based CO2 transport solution that enables flexible access to industrial emitters and carbon capture points across Europe. In December 2023, Northern Lights placed the order of a fourth CO2 ship, sister to the ones currently under construction at Dalian Shipbuilding Offshore Co., Ltd (DSOC). With these four ships, Northern Lights will have the world’s largest dedicated CO2 shipping fleet.

“Our investment in these custom-built ships reflects our commitment to deliver safe, reliable, and sustainable CO2 transport services. The recent contracts to build and operate the third and fourth ships signify an increase in Northern Lights’ shipping capacity and reinforce our pioneering role in CO2 transport”, said Børre Jacobsen.

About Northern Lights

Northern Lights delivers CO2 transport and storage as a service, enabling mitigation of industrial emissions that cannot be avoided and accelerating the decarbonisation of European industry. The company will transport liquefied CO2 from capture sites to an onshore receiving terminal in western Norway, before transporting it by pipeline for permanent storage in a reservoir 2,600 metres under the seabed. On schedule to be ready to receive CO2 in 2024, Northern Lights offers safe and reliable CO2 transport and storage services to industrial emitters in Norway and across Europe. Northern Lights JV DA is a registered, incorporated General Partnership with Shared Liability (DA) owned by Equinor, TotalEnergies and Shell.

About Kawasaki Kisen Kaisha, Ltd. (“K” LINE)

Kawasaki Kisen Kaisha, Ltd. (“K” LINE) founded in 1919 is one of the largest shipping companies in the world. “K” LINE has a long history and diversified track-record in ownership and technical management of liquefied gas carriers since delivering its first LPG carrier in 1974 and first LNG carrier in 1983. Based on such extensive experience of safe navigation and cargo operation of liquefied gas carriers, “K” LINE will contribute to safety and reliable liquefied CO2 transportation in the new CCS market. “K” LINE Group, as a globally trusted logistics company rooted in the shipping industry, will continue to work toward realizing low-carbon and carbon-free business operations and supporting decarbonization of society as a whole in order to realize a sustainable society and increase its corporate value, based on its corporate philosophy of “helping make the lives of people more affluent”.

*1 December 19, 2022: “K” LINE enters into long-term contracts with Northern Lights for two liquefied CO2 vessels ~World’s first full scale CCS project~