Mitsubishi, Chiyoda team up with 5 Singapore firms to utilize hydrogen energy
SINGAPORE, NNA - Japanese trading house Mitsubishi Corp. and engineering company Chiyoda Corp. are teaming up with five Singaporean partners seeking to develop ways to utilize hydrogen as a low-carbon fuel source for Singapore’s emissions-cutting project.
The two firms have signed a memorandum of understanding with PSA Corp., Jurong Port Pte Ltd., City Gas Pte Ltd., Sembcorp Industries Ltd., and Singapore LNG Corp. Pte Ltd. on research and development of technologies related to the importation, transportation, and storage of hydrogen, they said in a joint statement Monday.
Southeast Asia’s richest economy aims to halve carbon emissions to 33 million tons a year by 2050 from the planned 2030 levels to achieve its zero-emission goal early in the second half of the 21st century, according to the country’s Long-Term Low Emissions Development Strategy announced on Feb. 28.
“Under this partnership, we’ll first seek opportunities to make the business viable,” a spokesman at Chiyoda told NNA on Monday.
A spokesman at Mitsubishi, which will play the role of coordinating the partners to develop a business, declined to comment on the timeframe for generating revenue. Mitsubishi owns a 33.39 percent stake in Chiyoda.
Chiyoda, having been involved in LNG, gas and oil plants as well as renewable projects, expects to use its technology to store a large amount of hydrogen and transport it in chemical tankers at normal atmospheric temperatures and pressure.
The five Singaporean companies will work closely with the two Japanese partners to evaluate the technical and commercial feasibility of hydrogen usage in a bid to develop a business for the import and utilization of hydrogen in the city-state.
“Jurong Port is working with Chiyoda as we believe that the port is well placed to accelerate the development of hydrogen as a viable fuel option for power generation in Singapore’s transition to a low-emissions future,” Jurong Port CEO Ooi Boon Hoe, said in a joint statement released on Monday.
Singapore LNG, which owns and operates the country’s LNG terminal, expects this to be a key infrastructure to support a potential hydrogen project.