Asia/Pacific News
Japan, South Korea to Develop Alt Fuel Supply Network
Japan and South Korea will establish a joint supply network for carbon-neutral fuels such as hydrogen and ammonia, the Nikkei business daily reported on Friday.
Japanese prime minister and South Korean president will announce the framework on 17 November in the United States, where they are expected to join the Asia-Pacific Economic Cooperation meeting, Reuters reports citing Japanese business news provider, the Nikkei business daily.
Japan and South Korea plan to work together to negotiate prices and volumes and state-backed financial institutions would help companies to raise funds for hydrogen and ammonia projects outside Japan and South Korea, the report said.
Hydrogen and ammonia feature among a number of alternative fuels under consideration by shipping companies to reduce their carbon emissions.
