PIS Establishes Liquid CO2 Transport Business Agreement To LNG With Japanese Ship Giants

PIS with NYK MoU (Photo: PIS)

PT Pertamina International Shipping (PIS) signed a memorandum of understanding (MoU) for a strategic business agreement with Nippon Yushen Kabushiki Kaisha Group (NYK).

NYK has been known as a leading shipping company in Japan and the world, as well as a strategic partner of PIS since the end of 2022. This strategic partnership is followed by a business agreement plan that includes the transportation of liquid carbon dioxide and liquefied natural gas (LNG), as well as ship management.

This strategic partnership is a real commitment to support Indonesia's national agenda as a leader in carbon Capture and Storage (CCS) and emission reduction.

The signing of the MoU was carried out at Pertamina's head office and was attended by the President Director of PT Pertamina (Persero) Nicke Widyawati, PIS CEO Yoki Firnandi, and NYK Managing Executive Officer Hironobu Watanabe.

PIS CEO Yoki Firnandi emphasized the importance of collaboration and PIS readiness to play an important role in CCS transportation with NYK.

"MoU with NYK encourages PIS's unlock value initiative to grow beyond Indonesia through long-term partnerships and close relationships with our shareholders. This MoU is also a symbol of PIS' readiness to become the leader of CCS transportation and logistics aggregator in the region. We hope this partnership can encourage technology transfer and NYK's expertise in reducing carbon emissions," said Yoki, Wednesday, June 26.

Yoki said, PIS will focus on the transportation chain in the CCS process which requires ships and special carbon storage facilities. In addition to supporting the government, this collaboration is also in line with Pertamina Group's commitment to achieve Net Zero Emissions by 2060 through CCS technology and various other emission reduction initiatives across companies and subsidiaries.

Managing Executive Officer of NYK Hironobu Watanabe explained that cooperation with PIS is very important for NYK, considering that PIS is one of the important players in the Indonesian shipping industry.

"We've discussed a lot of plans for cooperation, and it's time to turn the deal on paper into a real business," Watanabe said.

Through this agreement, NYK and PIS will collaborate and review business opportunities as well as feasibility studies for transportation facilities to liquid CO2 storage from and to Indonesia.

In terms of LNG business, both parties agreed to collaborate in LNG Carrier ownership. Meanwhile, for the ship management business, NYK and PIS will form a joint venture, where NYK will provide training to increase the capacity of sailors to compete globally.

"The collaboration between NYK and PIS sets new standards in the maritime industry in a global effort to reduce carbon emissions and encourage sustainable development," concluded Yoki.