Overseas Shipholding Group (OSG), a major American shipping company, has launched efforts to explore the potential of carbon capture and storage as part of its GHG emission reduction strategy.
OSG 204 Image Courtesy: Business wire/OSG
To that end, OSG has established a new subsidiary, Aptamus LLC in Delaware, which will focus on investing in carbon capture, utilization, and storage (CCS) technology to help reduce greenhouse gas emissions. The new company plans to partner with other businesses to promote and develop this emerging technology.
The initiative has been supported by OSG’s board of directors, who have committed capital to evaluate and potentially invest in CCS technology. The value of the capital investment has not been disclosed.
However, installing CCS technology on a ship poses several challenges. These include determining the space and energy requirements for the system, ensuring safety considerations are met due to the handling and storage of compressed gases, and navigating complex and varied regulatory challenges.
