Japan´s trading company ITOCHU Corporation (Itochu) and Spain-headquartered marine fuels supplier Peninsula Petroleum S.L. (Peninsula), have signed a Memorandum of Understanding (MOU) for the Joint Development of Ammonia Bunkering in Spain.
According to ITOCHU, this MOU is an important milestone for social implementation of the use of ammonia as marine fuel on a global scale, and also a necessary step toward the realization of the Integrated Project, consisting of the construction of a global ammonia supply chain and the development of ammonia-fueled ships with its partner companies.
Ammonia is a zero-emission marine fuel solution, and it will greatly contribute to Greenhouse Gas (GHG) emissions reduction, if ammonia can be commonly used as a marine fuel.
ITOCHU informs that it plans to establish a global supply chain by promoting the joint development of an ammonia bunkering in Algeciras, Spain, with Peninsula and future partners.
Peninsula is one of the leading companies in the alternative marine fuels including LNG and biofuels and has a strong foothold and relationship with key stakeholders across the Mediterranean, including the Port of Algeciras.
Peninsula’s active investment, involvement in and understanding of alternative fuels will contribute the development of ammonia bunkering hub in Algeciras, Spain.
ITOCHU states it has already been promoting the development of an ammonia bunkering in Singapore with its partners Pavilion Energy, MOL, Total, and is concurrently promoting the development of bunkering hubs not only in Spain but also in other European port, Panama, the Middle East, Japan, and other regions.
