MOL, Idemitsu, HIF partner to enhance e-methanol supply chain

March 19, 2024 | by magnews24.com

Mitsui O.S.K. Lines, Ltd. (MOL) has signed a Memorandum of Understanding (MoU) for the cooperative development of a synthetic fuel (e-fuel) and synthetic methanol (e-methanol) supply chain.

The supply chain allegedly involves CO2 marine transport with Idemitsu Kosan Co., Ltd., HIF USA LLC, and HIF Asia Pacific Pty Limited (HIF), subsidiaries of HIF Global, a global supplier of synthetic fuels and methanol.

Synthetic fuels and synthetic methanol are produced by synthesizing green hydrogen derived from renewable energy sources and CO2.

READ: MOL, Idemitsu set to conduct recycling marine plastic demonstration test

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 commercialisation.

In this cooperative development project, the partners will collaborate to create a synthetic fuel/methanol supply chain that uses transport CO2 as a raw material, primarily through feasibility studies.

The feasibility studies will include the following components: CO2 maritime transit from Japan to HIF’s overseas synthetic fuels/methanol manufacturing plants, the establishment of a supply network to transfer synthetic fuels/methanol produced by HIF in overseas facilities to Japan, and cost-effective sea transportation of CO2 and synthetic methanol.

Recently, MOL and Rio Tinto, a dry bulk shipper, signed a Partnership Agreement to enhance decarbonisation of maritime transportation.

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