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44 min ago 1 min read
Japanese industrial engineering company Toyo Engineering (TOYO) has signed an agreement with seabed carbon capture and storage (CCS) technology specialist OneSubsea to advance seabed carbon dioxide (CO2) sequestration systems in Southeast Asia.
Under a signed memorandum of understanding (MoU), the partnership will explore opportunities aimed at improving seabed CO2 sequestration systems.
The effort will focus primarily on Japan but also explore opportunities across Southeast Asia.
OneSubsea is a joint venture between US technology company SLB (70%), Norwegian renewable energy solutions specialist Aker Solutions (20%), and Luxembourg-based offshore engineering company Subsea7 (10%), with respective equity stakes.
The collaboration will combine TOYO’s experience in CCS and onshore engineering with OneSubsea’s expertise in seabed CCS to improve offshore handling of CO2 and operation and maintenance of subsea CCS facilities.
Japan aims to reduce carbon emissions by and has advanced plans for a CCS shipping proposal with Malaysia earlier this year.
