- Towngas and Global Energy signed an MoU to promote green methanol as a marine fuel.
- Collaboration combines production and logistics to create an end-to-end green methanol supply solution across Asia.
- The partnership aims to support the shipping industry’s decarbonization with accessible green methanol and advisory services.
The Hong Kong and China Gas Company (Towngas) and Singapore-based Global Energy Trading (Global Energy) have signed a Memorandum of Understanding (MoU) to jointly advance the supply and distribution of green methanol as a marine fuel, reads an official release.
According to Towngas, the strategic collaboration, which follows a similar MoU signed between Towngas and Chimbusco Pan Nation Petro-Chemical Company Limited (CPN) announced in November, integrates production and logistics capabilities to provide end users with ‘a holistic, end-to-end solution at major and regional ports.’
Comprehensive green methanol supply solutions across Asia
In a statement issued, Towngas said the two parties will seek to leverage complementary strengths to develop comprehensive green methanol supply solutions across Asia.
‘This partnership represents a significant milestone in the green transition of maritime fuel supply,’ said Sham Man-fai, Chief Operating Officer – Green Fuels & Chemicals of Towngas. ‘By combining Towngas’s strengths in green methanol production with Global Energy’s supply chain management and market operation expertise, we are creating a robust platform to accelerate the shipping industry’s decarbonisation journey.’
Loh Hong-leong, Managing Director of Global Energy, added: ‘This collaboration is synergy in motion; together we are creating a one-stop bunkering solution to ensure green methanol is more accessible to the maritime industry. Beyond supply, we could offer advisory on compliance and in managing the benefits of using green methanol.’
Towngas’ methanol production plant in Ordos, Inner Mongolia, employing proprietary technology to convert biomass and municipal waste into green methanol, is said to be the first enterprise on the Chinese mainland to achieve ISCC EU and ISCC PLUS certifications for green methanol.
The Company has outlined expansion plans to establish additional production bases across China, including in Inner Mongolia, the Greater Bay Area, and Hainan, with the goal of achieving an annual production capacity of 1 million tonnes of green fuel and chemical supplies.
Global Energy, the first company in Singapore to own and operate dedicated bunkering tankers for methanol, has already conducted several methanol bunkering operations in the region.
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Source: Towngas
