～Exploring Strategic Collaboration in the Subsea CCS Sector～
Signing ceremony held on February 11 at TOYO’s Tokyo office
From the left: Katsuhiro Nishizawa, General Manager（title at the time）, Carbon Neutral Division, TOYO,Mr. Hongkun Dong, Regional Director, Sales & Commercial, Asia, SLB OneSubsea
Toyo Engineering Corporation (President and CEO: Eiji Hosoi, “TOYO”) has signed a Memorandum of Understanding (MOU) with SLB OneSubsea (OneSubsea)*, the world’s leading subsea technology and solutions provider, to explore collaboration opportunities in subsea CCS (CO₂ storage below the seabed). Through this MOU, the companies aim to combine their respective strengths to develop optimized and highly feasible system solutions for subsea CCS projects, primarily in Japan and Southeast Asia.
As the world moves toward carbon neutrality, CCS is recognized as one of the most effective ways to reduce CO₂ emissions. Globally, many geological formations capable of safely storing CO₂ over the long term are located beneath the seabed. As a result, expanding CCS will require an integrated approach that combines onshore facilities with subsea systems.
At the same time, subsea CCS projects capable of handling large volumes of CO₂ at commercial scale present technical challenges unique to offshore storage, including the safe transport and injection of CO₂, as well as advanced operation and maintenance.
TOYO brings strong capabilities in optimizing CCS project development and engineering, including system integration across capture, transportation, and storage interfaces, as well as the design and engineering of onshore facilities. OneSubsea, meanwhile, has a proven global track record in subsea technologies, including subsea production and processing systems. By working together, the two companies believe they can offer optimized subsea CCS system solutions tailored to diverse range of customer needs and project conditions.
Key Areas of Collaboration under the MOU
In the subsea CCS field, the two companies will jointly explore:
・Collaboration opportunities and marketing strategies
・Integrated and optimized system design
TOYO and OneSubsea will initially explore opportunities across a wide range of subsea CCS projects in Japan and Southeast Asia, with the aim of addressing customers’ technical challenges associated with subsea CO₂ transport, injection and storage. By combining their expertise and technologies, the two companies aim to create new value in subsea projects and contribute to the realization of a decarbonized society.
* SLB OneSubsea is the world’s leading subsea technology and solutions provider headquartered in Norway and the United States. The company is a joint venture, established in 2023 by SLB, Aker Solutions, and Subsea7.
TOYO has strong capabilities in onshore facilities for CO₂ separation and capture.
OneSubsea has deep expertise in subsea technologies and system solutions applicable to offshore CO₂ storage.