SHI and MISC Collaborate to Develop Floating CO2 Storage Unit

◇ Joint Development Agreement between SHI and MISC executed on Jan.18

· Jointly developing a FCSU, FCSU-I and strategy for FSCU-L

◇ Explore opportunities on CCS value chain as an offshore solution provider

Samsung Heavy Industries announced on 18 January that an MOU has been concluded with MISC, a global leader in energy-related maritime solutions and services, in Kuala Lumpur, Malaysia, to jointly develop floating CO2 storage Unit.

The FCSU(Floating CO2 Storage Unit) is a new concept of offshore unit that can store carbon dioxide(captured in land terminals) before it goes into the depleted offshore gas & oil wells.

SHI, as an offshore solution provider, together with MISC plans to develop FCSU and FCSU-I(with infection units at the top) for CCS value chain, and pioneer into CCS market by establishing a strategy for FCSU-L(with liquefaction units).

Apparently, there are more than 100 CCS projects currently being developed and assessed around the world, including Malaysia.

Global companies are increasing its interest in CCS technology that can remove CO2, and developing green energy as well to achieve 'global-NET ZERO'.

"SHI will develop various marine solutions that meet the needs of the CCS market with MISC", said BH(Antonio) Yoon, Head of Offshore Proposal at SHI.

SHI has also been jointly collaborating on the Shepherd CCS project with Malaysia since last year.

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