Chevron and the Angelicoussis Group announce ammonia carrier joint study agreement

Through the JSA, the Angelicoussis Group and Chevron to advance ammonia’s feasibility at scale, particularly as an export for petrochemicals, power, and mobility markets

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 U.S. 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.

Chevron is one of the world’s leading integrated energy companies. We believe affordable, reliable and ever-cleaner energy is essential to enabling human progress. Chevron produces crude oil and natural gas; manufactures transportation fuels, lubricants, petrochemicals and additives; and develops technologies that enhance our business and the industry. We aim to grow our traditional oil and gas business, lower the carbon intensity of our operations and grow new lower carbon businesses in renewable fuels, hydrogen, carbon capture, offsets and other emerging technologies.

The Angelicoussis Group was founded in 1947 and provides world class 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. Angelicoussis Group is headquartered in Athens, Greece and has over 8,000 professionals across the globe (onboard and onshore). Angelicoussis Group established Green Ships in 2022 to lead all energy transition engagements with its partners, customers, and other stakeholders across a broad range of value chains pertaining to its shipping activities.