The company aims to transfer its global experience in the LNG value chain to next-generation clean energy sources.
Historically, ammonia has been transported in limited quantities by sea and has mainly been used as a raw material for fertilizers. However, it is now at the center of the global energy sector due to its zero carbon dioxide emissions during combustion. When produced using renewable energy sources such as solar and wind, ammonia becomes a carbon-neutral fuel, and it is expected to see significant demand growth in the coming years through co-firing applications in power generation and its role as a hydrogen carrier.
In addition to expanding its ammonia transportation business, MOL is also conducting technical studies on floating storage and regasification units (FSRUs) for ammonia. The company is implementing concrete action plans to build a clean ammonia supply chain, while prioritizing the development of ammonia-fueled vessels and ammonia bunkering ships.
In its statement, MOL emphasized that ammonia-focused investments will play a critical role in its medium- and long-term sustainability targets. The company stated that it will continue to contribute to the decarbonization of global energy by both reducing its own operational emissions and supporting the development of green fuel supply chains.
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