Mabanaft and HIF Global have signed a Heads of Agreement (HoA) for the planned offtake of e-methanol and advancement of carbon-reducing fuels for the shipping industry, reads an official release.
The initial offtake would be of up to 100 thousand tons of e-methanol produced from renewable electricity and captured CO₂ per year. The agreement outlines the starting point for negotiations to define the terms of a potential offtake contract.
Demand for different methanol applications
As HIF Global moves forward with the development of its e-Fuels facilities, Mabanaft will further explore demand for different methanol applications jointly with its customers.
“Drop-in fuels can make a relevant difference ensuring a secure energy supply while leveraging existing infrastructure,” said Diego Fettweis, Chief Commercial Officer, HIF Global.
Volker Ebeling, Senior Vice President New Energy, Supply & Infrastructure, Mabanaft, also commented that the company strongly believes in the potential of e-methanol as a key enabler of the energy transition.
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Source: Mabanaft
