Introduction of an Environmental-friendly Fueled Ethylene Carrier (vessel)

Source Press Release
Company ENEOS Holdings, Inc.Marubeni Corporation 
Tags Strategy - Corporate, Pipelines/ tankers/ distribution, Environment
Date January 14, 2022

ENEOS Corporation(hereinafter, “ENEOS”), and Marubeni Corporation (hereinafter, “Marubeni”) announce that ENEOS and Marubeni have signed a Memorandum of Understanding (MoU) for the introduction of an environmental-friendly ethylene carrier (vessel) for ethylene delivery.

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, ENEOS and Marubeni have decided to use a brand new environmentalfriendly ethylene carrier, which will be chartered by Marubeni over the long term, for ethylene delivery commencing in 2024.

The vessel will be the first ethylene carrier equipped with a dual fuel engine (liquified natural gas/very low sulfur fuel oil) built for ethylene export from Japan, which can reduce emissions of carbon dioxide by roughly 40% compared to conventional ethylene carriers.

ENEOS and Marubeni intend to further develop carbon neutralization in the ethylene supply chain in order to meet customer needs for low carbon and decarbonization.

Source: EvaluateEnergy® ©2023 EvaluateEnergy Ltd