TOKYO-Mitsui O.S.K. Lines, Ltd. (MOL; President & CEO: Takeshi Hashimoto) today announced the signing of a memorandum of understanding (MOU) on the joint development of a synthetic fuel (e-fuel)/synthetic methanol (e-methanol) supply chain including CO2 marine transport with Idemitsu Kosan Co., Ltd. and HIF USA LLC and HIF Asia Pacific Pty Limited (HIF), subsidiaries of HIF Global, a leading worldwide producer of synthetic fuels/synthetic methanol, according to an article published on MOL.
Synthetic fuels and synthetic methanol
Synthetic fuels and synthetic methanol are produced by synthesizing green hydrogen derived from renewable energy sources and CO2. The entire lifecycle of the product, from production to use of the final product, is expected to significantly reduce carbon emissions, and is positioned for swift commercialization.
In this joint development project, the partners will work to develop a synthetic fuel/methanol supply chain, including the transport CO2 as raw material, mainly through feasibility studies of the following items:
- (1) CO2 marine transport from Japan to HIF’s overseas synthetic fuels/methanol production plants.
- (2) Establishment of a supply chain to transport synthetic fuels/methanol produced by HIF at overseas production plants to Japan.
- (3) Efficient and cost competitive marine transportation of CO2 and synthetic methanol
Through this initiative, MOL, Idemitsu, and HIF intend to lead the decarbonization of the energy and transportation industries, and collaborate to develop potential business opportunities.
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Source: MOL
