16 April 2023

Chevron and Angelicoussis Group announce ammonia carrier joint study agreement

16 April 2023

Chevron Corporation, 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 US 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.

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.

The Greece-based Angelicoussis Group was founded in 1947 and provides 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.

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