Chevron Corporation (NYSE: CVX), through its subsidiary Chevron
Shipping Company LLC, and the Angelicoussis Group, through its
Energy Transition division, Green Ships, announced a Joint Study
Agreement (JSA) to explore how tankers can be used to transport
ammonia, a potential lower carbon marine fuel. The initial study
will evaluate the ammonia transportation market, existing
infrastructure, the safety aspects of ammonia, potential next
generation vessel requirements and a preliminary system to
transport ammonia between the U.S. Gulf Coast and Europe. Future
opportunities will focus on additional global markets.
Ammonia is a carrier of hydrogen and is believed to have
potential to lower the carbon intensity of the marine industry.
Through the JSA, the Angelicoussis Group and Chevron aim to advance
ammonia’s technical and commercial feasibility at scale,
particularly as an export for petrochemicals, power, and mobility
markets.
“We are pleased to collaborate with the Angelicoussis Group on
this study, help advance lower carbon energy at scale and progress
marine transportation of ammonia,” said Mark Ross, President of
Chevron Shipping Company. “I’m proud of the collaboration between
Chevron Shipping, Chevron New Energies and the Angelicoussis Group
and look forward to driving progress toward our energy transition
goals.”
“Global value chain solutions are critical for growing the
hydrogen market, and we believe shipping will play a crucial role.
Chevron is leveraging its international functional marine expertise
and collaborating with the Angelicoussis Group to pursue the
delivery of lower carbon proof points to the market,” said Austin
Knight, Vice President, Hydrogen, Chevron New Energies.
“Through collaborating with Chevron Shipping Company on this
study, we aim to make a meaningful contribution to prepare our
industries for the transition towards lower carbon operations,”
said Maria Angelicoussis, CEO of the Angelicoussis Group.
“Combining our many years of experience in seaborne transport of
liquid and gaseous energy sources with Chevron's vast experience in
the energy business provides a solid basis for this endeavor.”
“Ammonia has potential as a hydrogen vector and is considered
one of the alternative fuel options to decarbonize shipping. We
believe this study will contribute towards identifying the
technical, operational and commercial challenges of carrying
ammonia at scale and using it as a fuel in a safe and sustainable
way,” said Stelios Troulis, Green Ships and Energy Transition
Director for the Angelicoussis Group.
Chevron and the Angelicoussis Group have a long-standing
relationship dating back to 2000. Since then, the partnership has
grown from conventional vessels to include multiple LNG carriers,
as well as joint work on energy transition initiatives. The teaming
of Chevron Shipping, Chevron New Energies and the Angelicoussis
Group on this study supports and accelerates both organizations’
ambitions to become leading, global clean energy providers by
focusing on all aspects of the hydrogen supply chain.
About Chevron
Chevron is one of the world’s leading integrated energy
companies. We believe affordable, reliable and ever-cleaner energy
is essential to enabling human progress. Chevron produces crude oil
and natural gas; manufactures transportation fuels, lubricants,
petrochemicals and additives; and develops technologies that
enhance our business and the industry. We aim to grow our
traditional oil and gas business, lower the carbon intensity of our
operations and grow new lower carbon businesses in renewable fuels,
hydrogen, carbon capture, offsets and other emerging
technologies.
About the Angelicoussis Group
The Angelicoussis Group was founded in 1947 and provides world
class shipping services across the LNG, tanker and dry bulk
markets. The Group is a privately held family business and is
headed by Maria I. Angelicoussis who became CEO in 2021.
Angelicoussis Group is headquartered in Athens, Greece and has over
8,000 professionals across the globe (onboard and onshore).
Angelicoussis Group established Green Ships in 2022 to lead all
energy transition engagements with its partners, customers, and
other stakeholders across a broad range of value chains pertaining
to its shipping activities. More information about the
Angelicoussis Group is available at www.angelicoussisgroup.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20230413005274/en/
Chevron Kelly Russell External Affairs Advisor
KellyRussell@chevron.com
Angelicoussis Group Olga Nikolaou Communications Officer
Angelicoussis Group onikolaou@angelicoussisgroup.com
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