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December 15, 2009

Maersk Tankers moves ahead on CO2 transport project

Maersk Tankers is making progress with its plans to ship CO2 in tankers to offshore storage sites.

Finnish utilities Fortum and Teollisuuden Voima (TVO) are cooperating with Maersk Oil and Maersk Tankers to develop a joint Carbon Capture and Storage (CCS) project.

Their plan would see carbon captured at Finland's coal fired Meri-Pori transported by Maersk Tankers' vessels for geological storage. Maersk Oil's role is to investigate the possibility of providing final CO2 storage in the depleting oil and gas fields of the Danish North Sea, as well as the potential use of CO2 for Enhanced Oil Recovery (EOR).

The aim is to capture, transport and store in excess of 1.2 million tonnes CO2 per year. Fortum and TVO have previously selected Siemens Energy as the CO2-capture technology partner for the project.

The project will seek qualification for funding from the European Union's CCS Demonstration Program. The selection for this funding is expected to take place in 2011 and the final investment decision in 2011-2012. The project aims to be in operation by 2015.

"CCS has the potential to become one of the key solutions in climate change mitigation", says Tapio Kuula President and CEO of Fortum.

. Maersk's solid experience with sea transport and oil production in the North Sea, combined with the power plant expertise of Fortum, TVO and Siemens, make the project a very strong candidate for demonstrating CCS technology

"Shipping CO2 in tanker vessels is a cost efficient and flexible way to get CO2 from power plants to offshore storage sites, which makes it a suitable solution for large CO2 emission sources such as coal-fired power plants, especially in the emerging phase of CCS," says S&0ring;ren Skou, CEO of Maersk Tankers and member of the A.P. Moller Maersk Group's Executive Board.

The coal-fired power plant at Pori on the west coast of Finland has an installed capacity of 565 MW. The CCS demonstration is planned to process approximately 50 percent of the plant's flue gas and to capture 90 percent of the CO2 it contains with Siemens' proprietary post-combustion capture technology. Therefore it reduces CO2 emissions in excess of 1.2 million tonnes annually. Meri-Pori's CCS demonstration is among the largest post-combustion capture projects yet announced in Europe and the first to combine shipping, cross border transportation between two EU countries and enhanced oil recovery options.

Maersk Tankers already has the blueprints to build tanker vessels to transport CO2 from emission sources to storage sites. The vessels will be semi-pressurized and semi-refrigerated, keeping the CO2 liquid.


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