Itochu Corporation, Itochu Enex Co. Ltd., Vopak Terminals Singapore Pte Ltd., Pavilion Energy Singapore Pte. Ltd., Mitsui O.S.K. Lines Ltd. and Total Marine Fuels Private Limited on Monday (17 May) entered into a memorandum of understanding (MOU) on the joint development study of ammonia as a new marine fuel in Singapore.
The development builds upon an earlier arrangement with Vopak to jointly study the feasibility of developing an infrastructure to support the use of ammonia as an additional source of marine fuel for vessels in Singapore.
“[Pavilion Energy, MOL, and Total] have high expertise and experience at each business segment, and are engaging in LNG bunkering business in Singapore,” stated a statement from Itochu Corporation.
“Great contribution to the project will be expected through their participation.”
According to Itochu Corporation, the purpose of the MOU is not limited to expansion and acceleration of the joint development of an ammonia fuel supply chain, including an on-shore and/or off-shore facility and an ammonia bunkering ship in Singapore.
It is also a key element of an integrated project that includes the development of ammonia fuelled ship by Itochu with other partners.
Itochu intends to promote initiatives to reduce GHGs with the cooperation of domestic and overseas clients, as well as the relevant government agencies.
Itochu, for its part, will aim to accelerate the development of sustainable energy systems through these initiatives, to ensure “contributions to the SDGs and improved efforts” as one of the basic policies of its new medium-term management plan, and achieve a low-carbon society.
The individual roles of the stakeholders are as follows:
Photo credit: Manifold Times
Published: 17 May, 2021
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