Press Release: A pioneering joint development project (JDP) to advance carbon-reduction technologies between ABS and Hyundai Heavy Industries Group (HHI Group) has taken a significant step forward by securing Approval in Principle (AIP).
ABS has awarded AIP to the carbon dioxide injection platform developed by HHI Group to store carbon dioxide that has been captured on land, liquefied at high pressure and transported to the sea through a carrier or pipeline in the seabed. HHI Group has developed this platform with the goal of storing annually 400,000 tons of carbon dioxide underground in Korea’s East Sea gas field starting in 2025. The AIP was presented at the Offshore Technology Conference.
Launched at the 2021 United Nations Climate Change Conference, COP26, the JDP was one of two signed by KSOE and ABS, with a second focused on developing technical guidance for green hydrogen production from offshore platforms as a key first step to the design and construction of a facility by 2025. The offshore green hydrogen production platform, which has also received ABS AIP, will be linked to renewable power sources on land as a near-shore concept, as well as a variety of offshore wind power. It will offer several options, including hydrogen liquefaction, ammonia and methanol conversion to hydrogen power systems, to address a variety of hydrogen sources and transportation methods.
“Carbon capture is a game-changing technology with a key role to play in reducing greenhouse gas emissions. ABS is committed not only to supporting the development of the infrastructure such as this platform but the vessels that will prove critical to the value chain as well, with a laser focus on safety,” said Peter Fitzpatrick, ABS Senior Vice President, Global Offshore.
Sungjoon Kim, HHI Group Chief Technology Officer, said: “HHI Group plays a key role in the development of green hydrogen and CO2 injection platforms for new markets in the carbon-neutral era. Based on HHI group’s differentiated offshore platform technology accumulated over a long period of time, we have developed an offshore green hydrogen production/carbon dioxide injection platform.”
More information on ABS Carbon Capture services is available here.
Header image: Pictured at the AIP signing are John McDonald, ABS Executive Vice President and Chief Operating Officer, and S.Y. Park, Hyundai Heavy Industries Senior Executive Vice President, Chief Operating Officer and Head of Group Ship/Offshore Marketing Division.