Japanese trading house Marubeni is joining forces with compatriot energy firm Eneos to work on an ethylene carrier powered by liquefied natural gas (LNG).
In that regard, the two firms have signed a memorandum of understanding as they look to slash emissions in the ethylene supply chain, according to a statement by Marubeni released on Friday.
Marubeni said it would charter the LNG-powered vessel over a long-term period to supply ethylene as of 2024.
The vessel would become the first ethylene carrier equipped with a dual-fuel engine, including LNG and very low sulfur fuel oil, built for ethylene export from Japan, the trader claims.
Also, this would help the vessel reduce emissions of carbon dioxide by roughly 40 percent
compared to conventional ethylene carriers, it said.
Eneos and Marubeni intend to further develop “carbon neutralization in the ethylene supply chain in order to meet customer needs for low carbon and decarbonization,” it said.
The firm did not provide any additional information.