NYK to invest in Indonesian utilities firm Pertamina

Nippon Yusen Kabushiki Kaisha (NYK) has reached an agreement to invest in PT Pertamina International Shipping (PIS), a shipping subsidiary of PT Pertamina (Persero), the largest state-owned oil and gas company based in Indonesia.

The parties plan to conclude the investment by the end of 2022.

NYK has been collaborating with PIS in the field of energy transportation.

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NYK was selected as a partner for the investment due to its contribution to energy transportation in Indonesia over the years, with liquefied natural gas (LNG) transportation at the forefront.

Through this investment, NYK plans to conclude a long-term strategic partnership agreement with PIS and collaborate on a wide range of businesses – including crude oil, petroleum products, LNG transportation, floating storage, and regasification units (FSRUs).

Parties also intend to collaborate on carbon capture and storage (CCS).

NYK has received approval in principle (AiP) from ClassNK for an ammonia bunkering vessel (ABV) that is currently being researched and developed.

This is the first time in Japan that a shipping company has independently obtained AiP for an ABV from ClassNK.