Developing a Green Corridor: MOL Signs MOU with Madoqua Renewables

Japan’s leading shipowner, Mitsui OSK Lines (MOL), has taken a significant step towards sustainable shipping by signing a memorandum of understanding (MOU) with Madoqua Renewables to develop a green corridor connecting Portugal to Northern Europe.

The green corridor project aims to create a shipping route that utilizes low-emission shipping solutions and transports low-carbon fuels, contributing to the global efforts to combat climate change.

Joining MOL and Madoqua in this initiative are various companies from different sectors of the energy transition value chain. These 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.

As the shipping logistics partner, MOL will play a crucial role in enabling the transportation of green fuels and CO2 while promoting the use of zero-emission ships to reduce carbon emissions in the maritime transport sector.

Working collaboratively with other stakeholders, MOL will provide strategic insights into the logistical and operational requirements for green fuels, ensuring the success of the green corridor project.

Madoqua Renewables, on the other hand, is currently spearheading large-scale green hydrogen projects in Portugal to produce green ammonia and e-methanol. Additionally, the company is developing the Madoqua Green Fuels Terminal in the port of Sines, a facility that will store, handle, and bunker alternative fuels with open access and electrification using renewable energy sources.