Finding ways to not only capture carbon emissions but use or store the carbon presents both a challenge and an opportunity in an increasingly carbon-conscious world. Part of the solution may involve taking advantage of another growth industry: Shipping of liquefied natural gas.
enforced by the International Maritime Organization starting in 2020. These studies have also demonstrated that for low volumes of CO shipping becomes competitive with pipelines at distances between 93 miles and 435 miles, while the breakeven distance is approximately 900 miles for higher volumes .
The introduction of dual-fuel diesel electric vessels altered the landscape for maritime transport in the early 2000s. With a 20% increase in efficiency compared to conventional steam turbine vessels, these reduce fuel costs considerably. Other advantages include lower maintenance costs, minimum hull space requirements that allow more room for revenue-earning cargo and the high flash point of diesel, which reduces the risk of accidents.
Using the experience of a mature industry with a fairly unblemished safety record and leveraging acquired industry experience along with existing port infrastructure and services, transporting COover long distances in combination with LNG gets rid of two crucial CCUS bottlenecks: high costs over the large source-to-sink distances and the need to develop dedicated infrastructure.
However, the need to optimize the entire supply chain, address the lack of regulatory support for ship transport of COand establish focused incentives for transportation all need urgent attention. In addition, environmental legislation to check that carbon continues to be produced as a byproduct and not a feedstock, storage regulations, insurance mechanisms and monitoring and reporting health and safety issues in the work environment will need to be tackled.
To address each of these, several demonstration projects will be required before ship transport of CO-LNG transport fleet, the shipping industry’s environmental footprint will need to be assessed and minimized, since maritime emissions contribute about 3% of global emissions, and if left unchecked, could multiply
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