March 30, 2020
MC Signs MoU with Singaporean Companies on Sustainable Hydrogen Economy
Mitsubishi Corporation (MC) is pleased to announce that on March 30, 2020, it entered into an MoU with its affiliate Chiyoda Corporation (Chiyoda) and five local companies on the joint development of a sustainable hydrogen economy in Singapore. The five local partners are City Gas Pte Ltd, Jurong Port Pte Ltd, PSA Corporation Limited, Sembcorp Industries Ltd, and Singapore LNG Corporation Pte Ltd.
Singapore’s Long-Term Low-Emissions Development Strategy (LEDS) aspires to halve emissions from the country’s expected 2030 peak to 33 Million tons of carbon dioxide equivalent by 2050, with a view to achieving net-zero emissions as soon as possible in the second half of the century. One of the keys to realizing the LEDS will be drawing on emerging low-carbon technologies, such as low-carbon hydrogen. This also marks a key switch in Singapore’s energy strategy towards a clean, affordable and more reliable energy future.
Chiyoda’s SPERA Hydrogen* technology could play an important role, and interested parties have been discussing opportunities for its commercial and technical application since October 2019.
MC will support this initiative as the main shareholder of Chiyoda. The five local companies will collaborate closely with MC and Chiyoda to evaluate the technical and commercial feasibility of hydrogen, and to develop businesses for its import and use in Singapore.
Since May 2019, MC has been providing steady assistance for Chiyoda’s revitalization, and this project should play an important role in the latter’s growth strategy. MC’s aims are to support Chiyoda’s hydrogen operations, which are a promising candidate for non-EPC business, and leverage them to help preserve the natural environment and develop sustainable societies.
*SPERA Hydrogen is an organic chemical hydride (OCH) hydrogen storage and transportation technology. LOHC (liquid organic hydrogen carrier) technologies allow hydrogen to be safely transported in chemical tankers at normal atmospheric temperature and pressure.
＜Chiyoda’s SPERA Hydrogen>
(Please refer to the attached for joint press release by 7 companies)
1. About Mitsubishi Corporation
Headquarters: 3-1 Marunouchi 2-Chome, Chiyoda-ku, Tokyo, Japan
Main Business: MC is a global integrated business enterprise that is comprised of 10 Business Groups: Natural Gas, Industrial Materials, Petroleum & Chemicals, Mineral Resources, Industrial Infrastructure, Automotive & Mobility, Food Industry, Consumer Industry, Power Solution, and Urban Development.
Representative: Takehiko Kakiuchi, President and CEO
2. About Chiyoda Corporation
Headquarters: 4-6-2, Minatomirai, Nishi-ku, Yokohama, Japan
Main Business: Integrated engineering business including consulting, planning, engineering, procurement, construction, commissioning and maintenance for facilities related to gas, electricity, petroleum, petrochemical, chemical, pharmaceutical, antipollution, environment, preservation, and other services. Exploration of oil, gas and other mineral resources, and investment and financing to such exploration activities.
Representative: Kazushi Okawa, Chairman of the Board & CEO
3. About City Gas
Headquarters: 26 Senoko Avenue, Singapore 758312, Singapore
Main Business: Production of town gas distributed island-wide to residents and commercial and industrial customers
Representative: Tan Chuan Huat Kenny, Chief Executive Officer
4. About Jurong Port
Headquarters: 37 Jurong Port Road, Singapore 619110, Singapore
Main Business: Jurong Port is a world-class multipurpose port operator serving as Singapore’s premier gateway for general and bulk cargo.
Representative: Ooi Boon Hoe, Director and Chief Executive Officer
5. About PSA Corporation Limited
Headquarters: SEAO, 1 Harbour Drive, #17-01, Singapore 117352, Singapore
Main Business: PSA is a leading global port group and a trusted partner to cargo stakeholders around the world.
Representative: Ong Kim Pong, Regional CEO Southeast Asia
6. About Sembcorp Industries
Headquarters: 30 Hill Street, #05-04, Singapore 179360, Singapore
Main Business: Sembcorp Industries is a leading energy, marine and urban development group, operating across multiple markets worldwide.
Representative: Neil McGregor, Group President & CEO
7. About Singapore LNG Corporation
Headquarters: 991G Alexandra Road, #03-29C Singapore 119975
Main Business: SLNG's main business model is one of providing terminal services to the LNG Aggregators and their end users.
Representative: Tang Kin Fei, Chairman of Singapore LNG Corporation Pte Ltd
Inquiry RecipientMitsubishi Corporation
Telephone:+81-3-3210-2171 / Facsimile:+81-3-5252-7705