Ammonia Facility in Japan to be Jointly Developed by IHI Corp and a Dutch Company
In a significant move towards Japan's energy transition, Japanese heavy industry manufacturer IHI Corporation and Dutch global tank storage firm Royal Vopak have agreed to a joint venture for the development and operation of an ammonia terminal in Japan. The project, subject to a subscription, is set to begin in the spring of 2024.
The joint venture leverages the strengths of both companies. With Royal Vopak's 20 years of experience in ammonia storage and six existing ammonia storage locations within its global network, and IHI Corporation's expertise in heavy industry and engineering, the partnership promises to deliver a state-of-the-art facility.
The location of the ammonia terminal in Japan remains undisclosed, but it is expected to store imported ammonia and serve as a hub for marine transport, with the terminal scheduled to open in 2030. The exact scale or capacity of the terminal is not detailed in the text.
The ammonia terminal is anticipated to contribute to Japan's energy transition by providing a sustainable source of energy. However, the potential impact on Japan's economy and any related environmental concerns are not discussed in the available information.
Kensuke Yamamoto, an executive officer at IHI Corporation, will be involved in the project as Vice-President of Business Development Division and General Manager of Ammonia Value Chain Project Department. The memorandum of understanding (MOU) for the joint venture was signed in November 2023, but updates on the progress of the MOU are not currently available.
As the project moves forward, more details about the cost, funding, and specifics of the ammonia terminal are expected to be disclosed. The joint venture between IHI Corporation and Royal Vopak marks an exciting step in Japan's pursuit of sustainable energy solutions.
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