Japanese heavyweight Mitsui O.S.K. Lines (MOL) has signed a memorandum of understanding (MoU) with Electricity Generation Authority of Thailand, Mitsubishi Company and Chiyoda Corporation on building a clean hydrogen and ammonia value chain derived from renewable energy sources in southern Thailand.
As informed, the signing ceremony was held at the Asia Zero Emissions Community (AZEC) Ministerial Meeting held in Tokyo on 4 March 2023.
AZEC is a concept announced by Japanese Prime Minister Fumio Kishida in January 2022 to encourage Asian countries to share a common philosophy of decarbonization and work together to promote energy transition.
The MoU stipulates that MOL, Mitsubishi Thailand, and Chiyoda will cooperate with EGAT, Thailand’s state-owned power generation company, in decarbonization projects to achieve the nation’s decarbonization targets.
The companies will jointly study ways to establish a series of supply chains for the production, storage, transport and utilization of clean hydrogen and ammonia derived from renewable energy sources in southern Thailand, and supplying them to domestic and international markets.
“Thailand is positioned as a key country in the Japanese government’s AZEC concept, and the movement toward carbon neutrality is expected to further accelerate in the future,” the company highlighted.
Through the MoU, MOL and its partners will study safe and efficient methods of transporting hydrogen and ammonia, based primarily on MOL’s experience and knowledge in the transport and handling of resources and energy.
MOL will also contribute to the development of the clean energy sector in Thailand and initiatives on carbon neutrality around the world by proceeding with the study in collaboration with the partners.
Earlier on, the firm established “MOL Group Environmental Vision 2.1” to promote the reduction of greenhouse gas (GHG) emissions from the group and from society at large through a concerted group-wide effort and contribute to the establishment of a supply chain for clean energy resources such as ammonia and hydrogen.
Under its environmental strategy, MOL plans to deploy about 110 net zero emission oceangoing vessels by 2035, including a hydrogen-producing vessel outfitted with multiple rigid sails – Wind Hunter.
The Japanese major has also recently received approval in principle (AiP) from ClassNK for the design of a large ammonia-powered bulk carrier.