Cooperating in Ocean Transport of ‘Green Hydrogen and Ammonia

Mitsui O.S.K. Lines, y announced that MOL representative has attended the reception on July 12th hosted by Port of Newcastle , in presence of Australia’s Minster of Climate Change and Energy, Mr. Chris Bowen, to introduce the partner of the Clean Energy Precinct construction project led by PoN as the project has become in full operation. PoN is responsible for port management and development in Newcastle, New South Wales, Australia, the world’s largest coal exporting port.

In February of this year, MOL concluded a memorandum of understanding (MoU) with PoN to jointly study the construction of this area and the establishment of a supply chain. As the project has become full operation from this May (Note 2), MOL has started the joint study with PoN mainly in ocean transport and bunkering of clean energy in the region. The project will receive A$100 million (about ¥9.5 billion) in funding from the Australian federal government to build a Clean Energy Precinct site in the port area that will serve as a major center for the production, storage, and export of clean energy, including green hydrogen and ammonia, and promote a decarbonized society and the creation of local jobs.

The PoN is a geographically important port hub, with more than 300 MOL-operated vessels calling there each year. The MOL Group has positioned environmental strategy as a key element in its  “BLUE ACTION 2035” management plan, and has set the target of achieving net zero greenhouse gas (GHG) emissions by 2050 in the “MOL Group Environmental Vision 2.2.” It will contribute to establish the clean energy supply chain through participation in this project at the PoN. In addition, the group is committed to engaging in the clean energy business by leveraging its collective strengths, aiming to proactively respond to major shifts in energy supply and contribute to the reduction of greenhouse gas (GHG) emissions not only from its own company but also from society at large.