BP and NYK Line have signed a memorandum of understanding to collaborate on future fuels and transportation solutions to help industrial sectors, including shipping, decarbonise.
For shipping, the companies will collaborate and identify opportunities to help transition from current marine fuels to alternatives such as LNG, biofuels, and methanol, and to develop future fuels such as ammonia and hydrogen. Getting this journey right will be critical to enabling the shipping industry to meet its long-term decarbonisation ambitions.
For other hard-to-abate industrial sectors, the two companies will also consider potential marine transportation and other solutions for carbon dioxide, and explore participation in the supply chains for ammonia and hydrogen to be used in heavy industry and power generation, to help those sectors to decarbonise.
Shipping is core to global trading activities. For the world to decarbonise, shipping must decarbonise, and as one of the world’s largest shipping and logistics companies, NYK Line is seeking to lead decarbonisation efforts in the industry through collaboration with bp.
bp is focusing on working with corporates in key industrial sectors that have significant carbon emissions to manage, to help them to decarbonise. The company’s ambition is to be a net zero company by 2050 or sooner, and to help the world to get to net zero.
Akira Kono, Senior Managing Executive Officer-Chief Executive of Energy Division, NYK Line:
“We are very pleased to enter into a strategic partnership with bp. We look forward to developing even more valuable solutions in the field of decarbonisation. By combining bp’s technological expertise and worldwide network in integrated energy with NYK Line’s expertise and technology as one of the world’s largest shipping and logistics companies, we hope to become a leader in the decarbonisation of the shipping industry.”
Source: Hellenic Shipping News