December 13, 2024 [Tank Storage]- Tepsa has signed a memorandum of understanding (MoU) with Madoqua and other value-chain partners to facilitate a Green Corridor from Portugal to Germany and the Netherlands.
Green shipping corridors are a maritime sustainability tool for reducing greenhouse gas emissions using new technologies, clean fuels, and innovative business models. The value-chain signatories to the MOU will combine their expertise to support decarbonisation in Europe. The corridor will be used to promote green hydrogen derivatives and carbon capture, utilisation and storage (CCUS) technologies. Its strategic terminal locations across Europe, including Rotterdam in the Netherlands, make Tepsa a key strategic partner in this venture backed by the Portuguese government.
‘Tepsa, alongside Madoqua and other industrial partners, is committed to contributing by offering midstream solutions to ensure the success of this corridor. By boosting the role of green hydrogen and synthetic fuels, the project will streamline the transportation of alternative fuels and raw materials from Portugal to Northwest Europe, enhancing the infrastructure and supply chain ecosystem. The green corridor will facilitate a better understanding of fuel flows and promote the export of green energy products,’ notes Nuria Blasco, managing director of Tepsa Iberia.
Portugal’s potential for renewable energy generation, particularly in solar and wind power, can be leveraged to produce competitive green hydrogen and its derivatives. This makes the country the perfect partner for Germany and the Netherlands. With their strict emissions targets they recognise the potential of hydrogen and its derivatives as key components in their energy transition.
Marloes Ras, Madoqua’s chief commercial officer, explains why the project is so important: ‘Energy transition is a journey, where partnerships are key to success. Our recent port collaboration is designed to make this approach a reality. Developing new generation facilities focused on producing e-fuels is just one piece of the integrated green fuel corridor puzzle. A significant amount of the existing port, bunkering services, and transportation infrastructure must be either re-purposed, augmented or built to meet the upcoming demand for e-fuels from the shipping and end-use industry.’
The MoU, signed by financial partners, terminal operators, academic and policy institutions, industrial corporations committed to decarbonization, green fuel producers, and alternative fuel offtakers, aims to establish and encourage joint institutional cooperation to create a reliable and efficient supply chain for green hydrogen derivatives from Portugal to the Netherlands and Germany and CO2 from Portugal and Germany to the Netherlands and Scandinavia.
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