NYK buys into North Sea CO2 storage project

AI Summary

Japanese shipping company NYK Line has agreed to acquire a 30% stake in Norway’s Trudvang carbon capture and storage project. The deal also includes a corresponding share in the project’s CO2 storage exploration licence, expanding NYK’s role from carbon transport into storage.

Japanese shipping giant NYK Line is moving beyond transporting captured carbon into the storage business, agreeing to acquire a 30% stake in Norway’s Trudvang CCS project. NYK has signed a deal with Vår Energi CCS for a 30% interest in Trudvang CCS ANS and the corresponding share in CO2 storage exploration licence EXL007 on the …