Northern Lights project has achieved a significant milestone by introducing new LCO2 carriers

The Northern Lights JV Company has installed custom-built 7,500 cubic meters cargo tanks on their first two vessels. These pressurized cargo tanks are specifically designed to transport liquefied CO2, reducing carbon intensity compared to conventional alternatives. The tanks were provided by Jiangsu Watts Energy & Engineering and are a major milestone in the development of the Northern Lights CO2 shipping fleet. This fleet will transport CO2 from customers in Norway and Europe for permanent storage on the Norwegian Continental Shelf. The construction of the vessels is underway at China’s Dalian Shipbuilding Offshore Co. (DSOC) and they are scheduled to set sail in 2024. The two LNG-powered, wind-assisted CO2 carriers are expected to have a 34% lower carbon footprint compared to conventional ships running on marine fuel.

The terminal that will receive the CO2 is currently in its commissioning phase and is expected to be operational this year. Its completion rate is impressive, standing at 95%. Once received, the CO2 will be stored in tanks onshore before being transported through a pipeline to an offshore reservoir for permanent and safe storage at a depth of 2,600 meters under the seabed.

Northern Lights has placed an order for three wind-assisted LCO2 carriers that run on LNG fuel and has entered a charter deal with Bernhard Schulte, a German ship-owning company, for a fourth vessel. The latest vessel, which was ordered in December 2023, will be 7,500 cbm in size and will feature the same design as its predecessors.

It has been announced that the fourth CO2 carrier will be delivered in 2026. This vessel will begin a long-term time charter with Northern Lights. Northern Lights has signed a binding commercial agreement with Yara International, a Norwegian-based ammonia company. This agreement is expected to enable the world’s first cross-border transportation and storage of CO2.