MOL Sets Up Zero Emission Fuel Working Group
- Business & Finance
Japanese shipping major Mitsui O.S.K. Lines has taken another step in its plan to cut emissions as it joined the Carbon Capture & Reuse (CCR) Study Group.
Additionally, the company launched the “Cross-industrial Working Group Related to Zero Emission Alternative Ship Fuels” with an aim to reduce carbon dioxide (CO2) emissions in international shipping’s value chains by using synthetic methane (methanation fuel) as an alternative to fossil fuel.
Synthetic methane is generated by methanation technology that combines CO2 with renewable energy-derived hydrogen.
In April 2018, the International Maritime Organization (IMO), which studies measures to reduce greenhouse gas (GHG) emissions in international shipping, set the goals – reduce CO2 emissions by 40% per unit of transport by 2030, and total GHG emissions by 50% by 2050, compared to 2008, and to zero GHG emissions as early as possible in this century.
MOL aims to introduce methanation fuel for ships and establish a supply chain by launching the working group, and will engage in study and promotion of the fuel in cooperation with other industries, other companies, and government agencies.