SAN RAMON, Calif. and SINGAPORE–(BUSINESS WIRE)–April 6, 2022–
Chevron (NYSE: CVX) has announced an agreement to join the Global Center for Maritime Decarbonization (GCMD). Chevron’s involvement is intended to help support GCMD’s efforts to develop potentially scalable low-carbon technologies – including those that enable the use of ammonia as a marine fuel – and the commercial means to enable their adoption. .
The GCMD is an independent, not-for-profit organization, established with the support of the Maritime and Port Authority of Singapore. It collaborates with the maritime industry, plans to conduct pilot projects and trials, and advocates for well-designed climate policies and standards.
“Shipping is a tough industry to downsize and to meet the International Maritime Organization’s climate goals, collaboration across the value chain is needed,” said Professor Lynn Loo, CEO of the Global Center for Climate Change. maritime decarbonization. “We look forward to working with Chevron and capitalizing on their experience as a fuel producer, supplier and end user to operationalize the pilots, which we believe will ultimately reduce the time to deployment and adoption of fuel solutions. This partnership will see the two organizations work closely together on fuels of the future as well as carbon capture technologies, both of which are key enablers that should help the sector achieve its net zero ambitions.
As part of its pursuit of a low-carbon future, Chevron Shipping continues to explore new technologies, energy-saving devices and low-carbon fuels, and collaborates with organizations around the world. industry on these potential solutions.
“Reducing the carbon intensity of shipping requires fundamental changes across the entire shipping value chain,” said Mark Ross, president of Chevron Shipping Company. “This is a truly complex task that requires industry-wide collaboration, innovation and well-designed policy. GCMD brings together the knowledge and expertise to help meet this challenge. We look forward to working with our fellow partners to advance our shared carbon reduction ambitions. »
In 2021, Chevron launched Chevron New Energies (CNE) to accelerate low-carbon hydrogen business; carbon capture, use and storage; offsets; and emerging energy opportunities, as well as supporting Chevron’s continued focus on renewable fuels and products. As part of its strategy, CNE focuses on customers in sectors of the economy whose emissions are more difficult to reduce.
“Chevron leverages our capabilities, assets and customer relationships to identify opportunities to reduce emissions from our own operations, while identifying ways in which critical sectors of the economy, such as marine industry, can meet their carbon reduction targets,” said Austin. Knight, vice president of hydrogen for Chevron New Energies. “Alongside Chevron Shipping, we look forward to collaborating with GCMD and its partners in this effort.”
Chevron is one of the world’s leading integrated energy companies. We believe that affordable, reliable and ever cleaner energy is essential to achieving a more prosperous and sustainable world. Chevron produces crude oil and natural gas; manufactures transportation fuels, lubricants, petrochemicals and additives; and develops technologies that improve our business and the industry. We are focused on reducing the carbon intensity of our operations and seek to develop low carbon activities alongside our traditional lines of business. More information about Chevron is available at www.chevron.com.
About the Global Center for Maritime Decarbonization
The Global Center for Maritime Decarbonization (GCMD) was established on August 1, 2021 with funding from the Maritime & Port Authority of Singapore (MPA) and six founding partners, namely BHP, BW, DNV Foundation, Eastern Pacific Shipping, Ocean Network Express and Sembcorp. Marine. The Centre’s mission is to help the marine industry reduce its carbon emissions as quickly as possible by developing standards, deploying solutions, funding projects and fostering collaboration across sectors. Strategically located in Singapore, the world’s largest maritime supply hub and second largest container port, the Center will coordinate regional and global decarbonization efforts. In January, the Center awarded its ammonia bunkering safety study to a consortium led by DNV, with Surbana Jurong and the Singapore Maritime Academy as partners. For more information, please visit www.gcformd.org.
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Global Maritime Decarbonization Center
+65 6979 7660
KEYWORD: CALIFORNIA SINGAPORE UNITED STATES NORTH AMERICA ASIA PACIFIC
INDUSTRY KEYWORD: MARITIME ENVIRONMENT TRANSPORT OIL/GAS ALTERNATIVE ENERGY ENERGY
SOURCE: Chevron Corporation
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PUBLISHED: 06/04/2022 05:00/DISC: 06/04/2022 05:02