JAPAN'S MITSUBISHI CONSIDERS OPENING FUEL AMMONIA IMPORT HUB

Japanese trading house Mitsubishi (8058.T) is considering the conversion of the Namikata terminal near Hiroshima into a fuel ammonia import hub. Japan views ammonia, which could be also produced as a derivative of hydrogen, as a key element in its net zero transition, and is pursuing this strategy together with coal in a test project which it hopes to expand nationwide.

On Friday, Mitsubishi signed a memorandum of understanding with Switzerland-based Proman to study a potential clean ammonia production project in Lake Charles in the United States. Takao Hariya, head of Mitsubishi's next-generation fuels and petroleum division, told the Third International Conference on Fuel Ammonia that if successful, the Lake Charles project could be built by the late 2020s and potentially supply ammonia to Japan.

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