According to partners, it is very important to standardize the specification and design of LCO2 carriers across each project as well as to establish a realistic production supply chain so that LCO2 carriers will be constructed and supplied stably in Japan and CCS value chain will be achieved with improved economic efficiency. The signed MOU suggests that four companies have agreed to make a collaboration to solve these issues related to the construction of LCO2 carriers and marine transportation, starting with Japan initiated CCS projects to the Asia-Pacific region. Mitsubishi Shipbuilding and Nihon Shipyard have already started joint study to build LCO2 carriers. Mitsui & Co and Mitsubishi Corporation, who are now advancing business development for early launch of the CCS business, are selected as leading companies in the Japanese Advanced CCS Project by JOGMEC aiming for overseas CO2 storage.