MOL; President & CEO: Takeshi Hashimoto) has announced to join, on 16th March as a main Partner, the Methane Abatement in Maritime Innovation Initiative (MAMII) tasked with reducing methane emissions across the maritime industry in the world (Note 1), which initiative led by Safety tech Accelerator is a non-profit established by Lloyd's Register and the Lloyd's Register Foundation.

MAMII was formed in September 2022 and currently, 14 companies have joined. MAMII is to identify, accelerate and advocate technology solutions to measure and manage methane emissions activity in the maritime industry aiming to minimize the environmental impact of methane slip in shipping through collaboration among participating companies, including surveying the institutional and industry regulatory requirements on methane emissions, to explore the current technology and practice landscape for methane monitoring, reporting and verification onboard and for methane abatement onboard and to build on experience and knowledge sharing in the area of the LNG supply chain.

Compared with conventional marine heavy fuel oils, LNG (Liquefied natural gas, mainly methane) fuel is widely understood to generate about 25% less carbon dioxide (CO2). Hence the deployment of LNG-fueled vessels is accelerating as an effective way of contributing from right now to the low-carbonization of ship operations. On the other hand, the environmental benefits of the CO2 reduction effect of using LNG could is partially negated due to any methane released to the atmosphere (methane slip) in the process of using LNG fuel.
Through this activity in MAMII, MOL aims to minimize the environmental impact of methane slip in shipping whilst aiding to the transition to further low and decarbonization of LNG-fueled vessels.

In addition to participating in MAMII, MOL is working with other partners on a technology development project aimed at significantly reducing methane slip on LNG-fueled vessels by utilizing catalysts and improving the engine's combustion process (Note 2) and the world's first methane oxidation catalyst system has received Approval in Principle (Note 3). This factory test will be commenced in the middle of 2023 and onboard trial will be conducted from the second half of 2024 to the end of 2026, verifying this design concept in the actual vessel. MOL is also taking initiatives aimed at the early introduction of the use of bio-methane and synthetic methane for the further low and decarbonization of LNG-fueled vessels (Note 4).

(Note 1) For more information on MAMII, please head to https://mamii.org/
The members of MAMII are Maran Gas Maritime、Mediterranean Shipping Company、Carnival Corporation&Plc、Seaspan Corporation、Shell、Lloyd's Register、Knutsen Group、CoolCo、United Overseas Management、Capital Gas、Celsius Tankers、Global Meridian Holdings、TMS Cardiff Gas、Mitsui O.S.K. Lines. (total 14 members as of April 2023)

(Note 2) Please refer to the related press release.
October 27, 2021: NEDO Selects Methane Slip Reduction Project for Next-Generation Ship Development Contributing to the reduction of the environmental impact of LNG-fueled vessels

(Note 3) Please refer to the related press release.
March 16, 2022: Design Approved for World's First Methane Oxidation Catalyst System - Promoting Development of Technology to Reduce Methane Slip on LNG-fueled Vessels Toward Further Reducing Environmental Impact-

(Note 4) Please refer to the related press release.
February 22, 2023: MOL and Air Water Begin Joint Study on Use of Liquefied Bio-methane as Marine Fuel - For Trial Use on a MOL Group LNG fueled Vessel -

MOL Group 5 Sustainability Issues
MOL Group will contribute to realizing a sustainable society by promoting responses to sustainability issues, which are identified as social issues that must be addressed as priorities through its business.
We anticipate this initiative to contribute especially to the realization of "Safety & Value -Provide added value through safe transportation and our social infrastructure business-", "Environment -Conservation for Marine and global environment-", and "Innovation -Innovation for development in marine technology-."