Trinidad & Tobago: exploring methanol opportunities. File Image / Pixabay.
The prospect of using methanol as an alternative marine fuel in the Caribbean regional market has moved a step closer with an agreement reached between two local players.
Trinidad's National Energy company and Methanex Trinidad, a subsidiary of the Canadian methanol producer, are to conduct a feasibility study on the use of the alternative marine and transport fuel.
The study's remit will also look at domestically produced methanol as a viable source of supply to the marine and inland transport sectors, according to local news provider the Trinidad & Tobago Guardian.
Methanex head Colin Bain called the agreement a key step forward for Caribbbean state.
"It is an attractive pathway compared to conventional transport fuel and a step towards Trinidad & Tobago's green agenda targets," he was quoted as saying.
About a third of Methanex's fleet, which operates as Waterfront Shipping, comprise methanol-fuelled tankers.