MITSUI O.S.K. Lines has announced the signing of a memorandum of understanding (MoU) to develop a green corridor connecting Portugal to Northern Europe alongside green chemical and gas producer Madoqua Renewables Holding.
The Japanese shipping line confirmed Madoqua will be the project coordinator, focused on driving collaboration across the entire value chain.
MOL said this green corridor project aims to establish a shipping route where low-emission shipping solutions are utilised and low carbon fuels are transported.
“Global industry leaders from Europe, Asia and North America have come together to support the development of this Green Corridor,” MOL said in a statement.
“The collaboration includes diverse sections of the energy transition value chain, including financial partners, terminal operators, academic and policy institutions, industrial corporates committed to decarbonization, green fuel producers and alternative fuel off-takers.”
As a shipping logistics partner, MOL will play a key role in enabling the transportation of green fuels and CO2, while promoting the use of zero-emission ships to further decarbonisation in the maritime sector.
In collaboration with other stakeholders, MOL said it will provide strategic insights into logistical and operational requirements for green fuels, to help shape the future of green corridors.
Madoqua is a Dutch-Portuguese developer of renewable energy and sustainable infrastructure projects.
The company is reportedly developing large-scale green hydrogen projects in Portugal to produce green ammonia and e-methanol, as well as the Madoqua Green Fuels Terminal.
The facility will store, handle and bunker alternative fuels in the port of Sines, with open access and electrified using renewable energy.
Parties that signed the MoU include the Port of Rotterdam, ING, Siemens, and ThyssenKrupp, amongst others.
