IHI Corp. (Tokyo) and Vopak NV (Rotterdam, Netherlands) have signed a joint development agreement under which IHI and Vopak plan to establish a new joint venture, as per Chemweek.

IHI and Vopak plan to participate in projects for the development and operation of an ammonia terminal in Japan, aiming to start operations in 2030, focusing on the development of ammonia storage and handling infrastructure.In this partnership, Vopak, a global tank storage and infrastructure partner, will leverage its experience in ammonia terminal engineering and operating. IHI, as Japan’s leading ammonia storage tank manufacturer, will advance its efforts to develop an ammonia value chain focusing on clean ammonia.Vopak said the collaboration focuses on developing a broader ammonia supply chain in Japan, with the goal of promoting the various uses of ammonia.

Furthermore, IHI and Vopak aim to establish an efficient ammonia distribution system by utilizing an ammonia terminal with a hub function for marine transportation.Vopak said the ammonia terminal development aims to facilitate the receiving and storing of imported ammonia within Japan and to facilitate the establishment of a system for a stable supply of such ammonia in Japan. According to Vopak, ammonia is anticipated to contribute to Japan’s decarbonization goals through its increased use as fuel and raw material in power generation and various industrial uses.The two companies in November 2023 signed a memorandum of understanding to jointly explore the development of ammonia terminals in Japan.mrchub.com
Source: Reuters