ENEOS Corporation and Marubeni Corporation have signed a Memorandum of Understanding (MoU) for the introduction of an environmental-friendly carrier, powered by LNG, for ethylene transport.
The vessel will be the first ethylene carrier equipped with an LNG dual fuel engine built for ethylene export from Japan, which can reduce emissions of CO2 by roughly 40% compared to conventional ethylene carriers.
ENEOS as a producer of ethylene, and Marubeni as a sales and logistics provider, have supplied ethylene to customers over a long time frame. The parties have jointly considered carbon neutralization in the ethylene supply chain in the MoU, and as a first step, they decided to use a brand new LNG-fueled vessel, which will be chartered by Marubeni over the long term, commencing in 2024.
ENEOS and Marubeni intend to further develop carbon neutralization in the ethylene supply chain in order to meet customer needs to advance towards decarbonization.