April 21, 2023
Energy one step ahead
Collaboration on the Establishment of a Blue/Carbon-free Ammonia Supply Chain with Korea Electric Power Corporation
Idemitsu Kosan Co., Ltd. (Head office: Chiyoda-ku, Tokyo; Representative Director, President & Chief Executive Officer: Shunichi Kito; hereinafter “Idemitsu”) is pleased to announce that it has signed a Memorandum of Understanding (MOU) with Korea Electric Power Corporation (Head office: Jeollanam-do, Korea; President and CEO: Seung-Il Cheong; hereinafter “KEPCO”) for seeking the collaboration on the Establishment of Blue/Carbon-Free Ammonia Supply Chain in Japan and Korea. Both companies will jointly study on procurement, marine transportation, and supply of blue/carbon-free ammonia to each country.
Ammonia, which does not emit CO₂ when combusted, is expected to become a next-generation fuel contributing to the realization of a carbon neutral society. It is particularly attracting attention as a fuel for power generation, especially coal-fired power generation. On the other hand, the reduction of CO₂ emissions through the manufacturing process remains as a challenge. Thus, the production, procurement, and use of blue ammonia, which is produced by capturing and utilizing CO₂ generated in the manufacturing process, and carbon-free ammonia using renewable energy, are now being developed.
Idemitsu plans to trial ammonia co-firing using existing naphtha cracking furnaces and coal boilers at the Tokuyama Complex (Shunan City, Yamaguchi Prefecture), with a view to supplying CO₂-free ammonia to neighboring industrial complexes by establishing an ammonia import terminal utilizing our existing infrastructure in the future. KEPCO, Korea’s largest power producer, aims to co-fire CO₂-free ammonia at its own coal-fired power plants. Under this MOU, both companies, heading toward concrete efforts to utilize fuel ammonia, will study the following collaboration items to accelerate the establishment of a blue/carbon-free ammonia supply chain in Japan and Korea.
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Joint search for ammonia production projects around the world
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Optimization of marine fuel ammonia transportation costs through cooperative ship operations.
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Optimization of supply and demand adjustment through mutual product exchange
当社は2022年11月に発表した「中期経営計画(対象年度:2023~2025年度) 」において、下記3つの事業領域の社会実装を通じ、事業ポートフォリオ転換を推進することを表明しました。
This initiative is positioned as an effort to develop and socially implement "Energy one step ahead" among the three business domains that Idemitsu has identified to realize a carbon-neutral society by 2050. Idemitsu will continue to contribute to the realization of a carbon-neutral society through collaboration with various leading companies in Japan and abroad.
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Idemitsu Kosan Co., Ltd. Public Relations Department, Public Relations Division