Japan's largest shipowner Mitsui OSK Lines (MOL) has signed a memorandum of understanding (MOU) to develop a green corridor connecting Portugal to Northern Europe with the producer of green chemicals and gases Madoqua Renewables.

This green corridor project aims to establish a shipping route utilising low-emission shipping solutions and transporting low-carbon fuels.

Apart from MOL and Madoqua the MOU was signed by companies from diverse sections of the energy transition value chain.

They include financial partners, terminal operators, academic and policy institutions, industrial corporates committed to decarbonization, green fuel producers and alternative fuel off-takers such as Ports of Sines, Rotterdam and Duisburg, CIP, ING, Cargill, Norwegian Cruise Line, Hyperion, KBR, Siemens, and Horisont Energi amongst others.

As a shipping logistics partner, MOL will enable the transportation of green fuels and CO2, while promoting the use of zero-emission ships to decarbonise the maritime transport sector.

In collaboration with other stakeholders, MOL will provide strategic insights into logistical and operational requirements for green fuels.

Madoqua is currently 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.