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  • 2021 September 8 16:25

    Marubeni and MOL sign MoU with the Ministry of the Russian Federation for Development of the Far East and the Arctic Regions

    Marubeni Corporation and Mitsui O.S.K. Lines, Ltd. today announced that on September 3, during the Eastern Economic Forum in Vladivostok, Russia,  Marubeni and MOL signed a memorandum of understanding (MoU) with the Ministry of the Russian Federation  for Development of the Far East and the Arctic Regions, State Development Corporation VEB.RF,  VTB Bank, and ESN Limited Liability Company (ESN Group) for a joint study to build, operate, and  utilize a methanol carrier equipped with a dual-fuel engine (methanol/very-low sulfur fuel oil).   

    For the marine transportation of methanol which the ESN Group plans to produce from natural gas in the Amur Region of Russia, the MoU will consider introducing an environment-friendly vessel which can reduce emissions  of sulfur oxides (SOx) by up to 99%, particulate matter (PM) by up to 95%, nitrogen oxides (NOx) by up to 80%  and carbon dioxide (CO2) by up to 15% compared to conventional fuel oil. This is achieved by utilizing the  methanol as a bunker to move the vessel.   

    Because methanol is liquid at normal temperature and pressure, it has the advantage of low marine transportation costs. On land, it can also be stored in ordinary tanks for liquids as a supply base.

    Marubeni and MOL will consider developing a project that would supply methanol as marine fuel should the  demand of methanol as fuel for common vessels grow in the East Asian region in future, as there is a possibility that this methanol which is to be produced and exported by the ESN Group will become a competitive supply  source located within the region.   

    Marubeni and MOL will drive the project in collaboration with customers and partners in Japan and overseas and  in cooperation with the government-related organizations, with the aim of further reducing the environmental  impact of ocean transport. 

    About ESN

    ESN, established in 1991, is a Russian private-equity company. It initially focused primarily on the oil,  gas and retail sectors and recently is diversifying the portfolio into energy, IT, venture and media. Head quarter is  in Moscow.   

    About Marubeni Corporation 

    A general trading company founded in 1949. Marubeni Corporation and its consolidated subsidiaries use their  broad business networks, both within Japan and overseas, to conduct importing and exporting (including third  country trading), as well as domestic business, encompassing a diverse range of business activities across wide- ranging fields including lifestyle, ICT & real estate business, forest products, food, agri business, chemicals, energy, metals & mineral resources, power business, infrastructure project, aerospace & ship, finance & leasing business,  construction, industrial machinery & mobility, and next generation business development. Additionally, the  Marubeni Group offers a variety of services, makes internal and external investments, and is involved in resource  development throughout all of the above industries.   

    About Mitsui O.S.K. Lines, Ltd. (MOL) 

    Founded in 1884, and headquartered in Tokyo, MOL is one of the world’s top shipping companies. It owns the  largest methanol fleet in the world (17 vessels), among its 800 ships transporting various cargoes such as natural  resources, energy, raw materials, and finished products, and in 2016, it started operation of world’s first methanol  carrier powered by a dual- methanol fuel engine.




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