NYK and ENEOS partner on marine fuel with carbon removal credits

In Japan, NYK and ENEOS Corporation signed an agreement for the sale and purchase of marine fuel integrated with carbon dioxide removal credits, generated through Direct Air Capture with Carbon Storage. Starting in 2028, ENEOS will procure these credits from 1PointFive’s STRATOS Direct Air Capture plant in Texas, scheduled to begin operations in 2025, and supply them alongside marine fuel to NYK for five years.

DACCS technology removes CO2 from the atmosphere and stores it underground, addressing emissions that cannot be eliminated through energy efficiency or alternative fuels. NYK and ENEOS view this collaboration as a step toward achieving net-zero emissions by 2050, aligning with their broader decarbonization strategies.

“NYK aims to achieve net-zero CO2 emissions through a ‘reduction’ and ‘removal’ approach by offsetting emissions using CDR credits,” stated the company. ENEOS emphasized its commitment to reducing societal CO2 emissions, including through technologies like DACCS and initiatives promoting hydrogen, biofuels, and renewable energy.

The agreement reflects the growing role of carbon capture in marine decarbonization efforts, enabling progress toward a carbon-neutral society while supporting the transition to next-generation fuels like ammonia and methanol.

More on the story.