Spain: Itochu, Peninsula enter MOU for joint development of ammonia bunkering in Gibraltar Strait
- Published
by Admin
Tokyo-based Itochu Corporation on Friday (22 September) executed a Memorandum of Understanding (MOU) with marine fuels supplier Peninsula Petroleum (Peninsula) on the joint development of ammonia bunkering in Spain.
Ammonia is advancing as a key zero-emission marine fuel solution and it will greatly contribute to Greenhouse Gas (GHG) emissions reduction if ammonia can be commonly used as a marine fuel, stated Itochu.
“This MOU is an important milestone for social implementation of the use of ammonia as marine fuel on a global scale, and also a necessary step toward the realisation of the Integrated Project consisting of the construction of a global ammonia supply chain and the development of ammonia-fuelled ships by Itochu and its partner companies,” it said.
“Itochu aims to establish a global supply chain by promoting the joint development of an ammonia bunkering in Algeciras, Spain, where is located in Gibraltar Strait and is also a strategic location for international logistics, together with Peninsula and future partners.
“Peninsula is one of the leading companies in the alternative marine fuels including LNG and biofuels, and has a strong foothold and relationship with key stakeholders across the Mediterranean, including the Port of Algeciras. Peninsula’s active investment, involvement in and understanding of alternative fuels will contribute the development of ammonia bunkering hub in Algeciras, Spain.”
Manifold Times in 2021 reported an Itochu-led joint study framework discussing common issues in pursuit of the utilisation of ammonia as an alternative marine fuel expanding to 34 players.
Related: Japan: “K” Line, ITOCHU and partners receive ClassNK AiP for ammonia-fuelled bulk carrier
Related: Itochu-led joint study of ammonia as an alternative marine fuel expands to 34 players
Related: Singapore: Pavilion Energy, MOL, Total join Itochu and Vopak ammonia bunker fuel study
Related: Singapore: Itochu Group partners Vopak to explore supply of ammonia as bunker fuel
Photo credit: Scott Graham
Published: 25 September, 2023
