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Marubeni and MOL enter MOU with Russian players; mulls start of methanol bunker fuel supply business

09 Sep 2021

General trading company Marubeni Corporation and shipping company Mitsui O.S.K. Lines, Ltd. on Wednesday (8 September) said they have signed a Memorandum of Understanding (MOU) with several Russian players on 3 September during the Eastern Economic Forum in Vladivostok, Russia.

The MOU with the Ministry of the Russian Federation for Development of the Far East and the Arctic Regions, State Development Corporation VEB.RF, VTB bank, ESN Limited Liability Company (ESN Group) relates to a joint study to build, operate, and utilise a methanol carrier equipped with a dual-fuel engine (methanol/very-low sulfur fuel oil).

The development supports ESN Group’s activities in the Amur Region of Russia, where it plans to produce methanol from natural gas.

Marubeni and MOL will consider developing a project that would supply methanol as marine fuel should the demand of methanol as fuel for common vessels grow in the East Asian region in future, as there is a possibility that this methanol which is to be produced and exported by the ESN Group will become a competitive supply source located within the region, said both firms.

Marubeni and MOL will drive the project in collaboration with customers and partners in Japan and overseas and in cooperation with the government-related organisations, with the aim of further reducing the environmental impact of ocean transport. 

 

Photo credit: TASS
Published: 9 September, 2021

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