TOKYO-Mitsui O.S.K. Lines, Ltd. (MOL; President & CEO: Takeshi Hashimoto; Headquarters: Minato-ku, Tokyo) and Cosmo Oil Co., Ltd. (Cosmo Oil; President: Yasuhiro Suzuki; Headquarters: Minato-ku, Tokyo) today announced the signing of a memorandum of understanding (MoU) on the study of ocean transport, with the goal of establishing a carbon dioxide capture and storage (CCS) value chain.CCS is regarded as one of the most effective solutions to realize a low-carbon/decarbonized society. MOL and Cosmo Oil will collaborate on the establishment of a "CCS value chain consisting of separation, capture, transport, injection and storage" of CO₂ emitted from Cosmo Oil's refineries (emission sources), and conduct the following studies.

• (1) Outline specifications of liquefied CO₂ carriers suitable for the distance from the emission sources to the candidate storage sites in Japan and abroad, and the expected transport volume.
• (2) Estimate of ocean transport costs based on the results of the study in (1) above.
• (3) Further possible collaborations on any potential projects on CCS, CO₂ capture, separation, ocean transport, and reuse.

* CCS: Technology to capture CO₂ from exhaust gas and store it underground, etc.

MOL and Cosmo Oil will accelerate this CCS value chain project through the MoU, and contribute to the realization of a low-carbon society.