BP, NYK team up to decarbonise shipping, heavy industry
BP and Japanese shipping group NYK Line have signed a memorandum of understanding to work together to decarbonise shipping and other heavy industrial sectors, the companies said on September 15.
They will look at opportunities to transition shipping from current oil-based fuels to cleaner alternatives like LNG, biofuels and methanol, and develop future fuels such as ammonia and hydrogen.
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"Getting this journey right will be critical to enabling the shipping industry to meet its long-term decarbonisation ambitions," the companies said in a joint statement.
The pair will also consider marine transportation and other solutions for CO2 to help decarbonise other hard-to-abate industries, as well as explore involvement in supply chains for ammonia and hydrogen for their use in heavy industry and power generation.