This partnership combines Vopak's global expertise in ammonia terminal operations with IHI's leadership in ammonia storage tank manufacturing to create a safe and efficient ammonia supply chain.
In a significant stride towards accelerating Japan's energy transition and decarbonization goals, Japanese heavy industry giant IHI Corporation and global tank storage leader Royal Vopak have officially signed a joint development agreement. This landmark agreement paves the way for the establishment of a new joint venture dedicated to the development and operation of an ammonia terminal in Japan, with an ambitious target to commence operations by the Japanese fiscal year 2030.
The proposed ammonia terminal is envisioned as a critical piece of infrastructure, designed to facilitate the receiving and storing of imported ammonia within Japan. Its primary objective is to establish a stable supply system for ammonia, a substance increasingly recognized for its pivotal role in achieving Japan's decarbonization targets. Ammonia is anticipated to see widespread adoption as a clean fuel in power generation and as a raw material across various industrial sectors, contributing significantly to reducing carbon emissions.
This joint development agreement builds upon a Memorandum of Understanding (MoU) signed by IHI and Vopak in November 2023, which initiated their joint exploration into the development and operation of high-value-added ammonia terminals in Japan.
This collaboration brings together the complementary strengths of two industry leaders. Royal Vopak, with its extensive global experience in the engineering and operation of ammonia terminals, will contribute its profound expertise in safe and efficient handling and storage solutions.
Kensuke Yamamoto, Executive Officer, Vice President of Business Development Division, and General Manager of Ammonia Value Chain Project Department at IHI Corporation, expressed enthusiasm for the ongoing collaboration. "We are pleased to observe the continued progress of our collaboration with Vopak toward the development and operation of an ammonia terminal in Japan," he stated. "By fully leveraging the combined expertise and advanced technologies of both companies, we aim to contribute to Japan’s energy transition and the realization of a sustainable society through the establishment of safe and efficient ammonia infrastructure.”
Lars Schaumann, Managing Director of Vopak Japan, echoed this sentiment, highlighting the alignment of the venture with Vopak's global growth strategy. “We are very much looking forward to contributing, together with IHI, to the ammonia terminal development in Japan," Schaumann said. "Vopak's global growth strategy includes industrial and gas infrastructure and infrastructure needed for the energy transition."
