Samsung Heavy, MISC to jointly develop floating CO2 storage units

South Korea's major shipbuilder Samsung Heavy Industries said on Thursday that it has signed an agreement with MISC Berhad, a Malaysian offshore energy solution company, to jointly develop floating carbon dioxide storage units (FCSUs).

The FCSU is a new-concept offshore facility that stores carbon dioxide captured on land terminals in depleted offshore oil or gas wells.

As a provider of offshore solutions for the carbon capture and storage (CCS) value chain ranging from CO₂ capture-transport-storage, Samsung Heavy Industries will develop FCSU-I with an injection valve on top as well as FCSU with the Malaysian company.

In addition, the company will build FCSU-L, which is equipped with a liquefaction facility, and move into the CCS market after establishing a development strategy.

"We will develop various offshore solutions that meet the needs of the CCS market in partnership with MISC," said Yoon Byeong-hyeop, head of the offshore technology sales team at Samsung Heavy Industries.

Write to Ik-Hwan Kim at lovepen@hankyung.com