NYK, ENEOS ink deal for sale and purchase of marine fuel

Nippon Yusen Kabushiki Kaisha (NYK) and ENEOS Corporation (ENEOS) signed an Agreement regarding the sale and purchase of marine fuel with carbon dioxide removal credits (CDR credit) created through Direct Air Capture with Carbon Storage (DACCS).

The Agreement stipulates that ENEOS will procure CDR credits from 1PointFive’s STRATOS Direct Air Capture plant in Texas, the United States that is scheduled to commence operations in 2025. These credits are generated by removing CO2 from the atmosphere and storing it underground. ENEOS will then sell these credits, along with the marine fuel it supplies, to NYK for five years starting in 2028. DACCS is one of the negative emission technologies that achieves the removal of greenhouse gases (GHGs) that cannot be reduced by energy conservation or transition to next-generation fuels. This innovative technology contributes to achieving net zero emissions in the energy sector.

NYK and ENEOS will continue to actively promote the development and dissemination of GHG emissions reduction technologies, including DACCS, to contribute to the realization of a carbon-neutral society.