ABS Group Provides Shipping Technical Report for IEA CO2 Transport Feasibility Study
NEWS ADVISORY–ABS Group, through its subsidiary ABS Consulting, provided the technical feasibility portion of the recently released International Energy Agency (IEA) Greenhouse Gas Research and Development Program study on transport of CO2 by ship. The report, Feasibility Study for Ship Based Transport of Ethane to Europe and Back Hauling CO2 to the USA, examined the potential for optimizing shipping used to export US natural gas liquids (NGLs) and liquefied petroleum gases (LPGs) resulting from shale development in the US.
The study was led by Michael Moore, vice president of energy commodities at Fearnoil Inc., a division of Astrup-Fearnley AS. ABS Group’s Technical Inspection and Verification team, at the direction of Fearnoil, evaluated the technical potential to use certain liquefied gas carriers’ low temperature / high pressure design features to combine carbon capture and storage (CCS) supply in Europe with enhanced oil recovery (EOR) demand in the US.
The IEA report was conducted as part of the US Department of Energy (DOE) Quadrennial Energy Review, which focuses on economic competiveness, energy security and environmental responsibility. The report concluded, based on ABS Group’s technical evaluation, that liquid CO2 transport on gas carriers as part of a voyage optimizing backhaul cargo would be within feasible vessel design parameters and established trade routes. With sufficient demand development in the US, this would provide synergistic economic and environmental benefits by linking CCS supply to EOR demand within a developing maritime trade framework.