Americas News
Carbon Direct and C2X Team Up on Louisiana Bio-Methanol Project for Shipping
Energy solutions firm Carbon Direct and C2X have partnered to advance a Louisiana bio-methanol and carbon removal project aimed at catering to demand from sectors including shipping.
The Beaver Lake Biofuels project will repurpose the former International Paper Pineville mill site, closed since 2009, using surplus forestry and sawmill residues, Carbon Direct said in a press release on Wednesday.
It is expected to produce about 550,000 mt/year of bio-methanol and permanently store roughly 1 million tonnes of CO2 annually through geological sequestration.
Bio-methanol is viewed as an alternative marine fuel option as emissions rules tighten and more methanol-capable vessels enter service.
"With FuelEU Maritime mandating progressively tightening GHG intensity limits—from 2% reduction by 2025 to 80% by 2050—and other global mandates quickly emerging, demand for low-carbon biomethanol as a marine fuel continues to grow," Carbon Direct said.
Beaver Lake is nearing completion of front-end engineering design, with final investment decision targeted in 2026 and start-up expected in 2029.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 513.00 | 1.50 | 708.00 | 4.00 |
| Rotterdam | 480.00 | 1.00 | 718.00 | 0.50 |
| Houston | 493.00 | 4.50 | 706.00 | 5.00 |
| Fujairah | 509.50 | 2.00 | 774.00 | 0.00 |
| Americas Average | 607.50 | 1.00 | 871.50 | 6.50 |
| Global 20 Ports Average | 536.50 | 1.00 | 792.00 | 1.50 |
| Global 4 Ports Average | 499.00 | 2.00 | 726.50 | 0.50 |
| Global Average Bunker Price | 573.00 | 0.00 | 827.50 | 2.00 |
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