Provaris Energy has been given the green light by Yinson Production to kickstart the front end engineering design (FEED) phase for their innovative large-scale low-pressure liquid CO2 (LCO2) tanks. These tanks are intended for integration with Yinson’s floating storage injection unit (FSIU). The entire cost of the FEED phase will be covered by Yinson, with initial deliverables expected by December 2025.
Collaborating closely, Provaris and Yinson are in the process of establishing a new joint venture entity (NewCo) that will have exclusive rights to the LCO2 tank design, fabrication methodology, and future intellectual property for scalable designs applicable in both marine and onshore settings. The ownership of NewCo will be split equally between the two parties, with both having the same licensing and commercialization privileges.
Yinson, in conjunction with “K” LINE, is actively working on innovative solutions for the transportation and injection of liquefied CO2. Their joint efforts are directed towards supporting carbon capture and storage (CCS) projects, particularly those underway in Europe. This partnership signifies a strategic move towards addressing the pressing need for sustainable solutions in the maritime sector.
Provaris’s Chief Technical Officer, Per Roed, expressed the significance of commencing the FEED phase in validating their design and progressing towards a market-ready product. The interest from the maritime industry in Provaris’s advanced fabrication technologies underscores a growing demand for cutting-edge solutions that can overcome the limitations of traditional tank designs. The envisioned platform, besides catering to Yinson’s LCO2 project, is designed to be versatile for multiple applications, including compressed hydrogen storage.
The FEED program marks a crucial phase for Provaris as it transitions the LCO2 tank design from a conceptual stage to a state of commercial and operational readiness. The focus of the tank development will be on continuous compliance with stringent maritime regulations, seamless integration with Yinson’s FSIU, compatibility with LCO2 carriers, and optimization of the tank design with respect to steel weight and automated fabrication processes. The fabrication of the tank will heavily rely on robotic technologies for material handling and laser welding procedures.
In an effort to ensure the structural integrity and robustness of the tank design, Provaris plans to undertake comprehensive structural and parametric analyses, including global finite element modeling. Additionally, there will be a specific focus on static and fatigue structural design for critical sections of the tank. The development of experimental test procedures at Provaris’s robotic cell facility in Norway will play a pivotal role in validating the performance and reliability of the tank design.
Provaris’s recent engagement with Clarksons, a strategic advisor, involved a targeted roadshow in Asia to evaluate the emerging trends and requirements in LCO2 applications within the maritime and offshore industries. These discussions with key stakeholders shed light on the preference for large-scale LCO2 tanks within the range of 40,000 to 50,000 cubic meters. This aligns with Provaris’s concept design, which offers significant advantages such as enhanced hull utilization and cargo capacity, based on standardized hull specifications.
Key Takeaways:
1. Provaris Energy, in collaboration with Yinson Production, is embarking on the FEED phase for developing large-scale low-pressure liquid CO2 (LCO2) tanks.
2. The partnership aims to establish a joint venture company (NewCo) to exclusively manage the LCO2 tank design and fabrication methodology.
3. Provaris’s innovative tank design, leveraging robotic fabrication technologies, is poised to address the evolving needs of the maritime industry for sustainable storage solutions.
4. The focus on large-scale LCO2 tanks aligns with market preferences, emphasizing the importance of efficient hull utilization and cargo capacity in maritime operations.
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