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Sinopec News Net, according to World Natural Gas News on May 18: Japan’s ITOCHU Corporation stated that the company has signed a memorandum of understanding with ITOCHU Enex, Vopak, Pavilion Energy, Mitsui OSK Line and Total in Singapore.
ITOCHU stated that the purpose of the memorandum of understanding is not limited to expanding and accelerating the joint development of the ammonia fuel supply chain, but also includes the establishment of onshore or offshore facilities and an ammonia fuel ship in Singapore.
This is also a key element of a comprehensive project, including ITOCHU and other partners to jointly develop ammonia fuel ships.
ITOCHU said that to achieve the goals set by the International Maritime Organization, it is necessary to develop zero-emission ships as soon as possible, which includes increasing ship efficiency by 40% by 2030 and reducing ship greenhouse gas emissions by 50% compared with 2008 by 2050.
ITOCHU, who signed a memorandum of understanding with Vopak in June last year, stated that the introduction of Pavilion Energy, Mitsui OSK Line and Total will further benefit the project.
Feng Juan excerpted from World Natural Gas
The original text is as follows:
ITOCHU TO PROMOTE AMMONIA AS MARINE FUEL IN SINGAPORE
Japan's Itochu Corp has signed a memorandum of understanding (MoU) with Itochu Enex, Vopak, Pavilion Energy, Mitsui OSK Line and Total on the joint development study of ammonia as a new marine fuel in Singapore, it said on May 17.
Itochu said that 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 fueled ship by Itochu with other partners," it said.
Itochu said the early development of zero-emission vessels was needed to meet targets set by the International Maritime Organisation, which include a 40% improvement in vessel efficiency by 2030 and a 50% cut in greenhouse gas emissions from shipping by 2050 versus the levels in 2008.
Itochu, which had signed the MoU with Vopak in June last year, said that bringing in Pavilion Energy, Mitsui OSK Line and Total will further benefit the project.
