Japanese heavy industry manufacturer IHI Corporation and Dutch global tank storage firm Royal Vopak are to develop and operate an ammonia terminal in Japan after firming up a memorandum of understanding (MOU) for a joint venture. The facility, which will store imported ammonia and serve as a hub for marine transport, is targeting a 2030 opening. The MOU was originally signed in November 2023. Kensuke Yamamoto, Executive Officer, Vice-President of Business Development Division, and General Manager of Ammonia Value Chain Project Department, said leveraging on both firms' strengths would contribute to Japan's energy transition. Currently Vopak has six ammonia storage locations within its global network and can draw on 20 years of experience. Alongside developing large-scale ammonia terminals, both companies will examine the streamlining operations to enhance price competitiveness, and conversion and supply of various hydrogen derivatives.