Asia/Pacific News
Construction Begins on Green Methanol Facility in Shanghai
A groundbreaking ceremony was held last week for a new 100,000 mt/year green methanol production facility in Shanghai.
Shanghai Huayi Holdings Group announced the construction of the facility in presence of other dignitaries in a ceremony on Monday, the company said in a statement on its website.
"The successful implementation of the project is of great significance to serving the national dual carbon strategy and promoting the upgrading of Shanghai's international shipping center," the company said.
Green methanol has been touted as a promising fuel to pave the way for shipping decarbonisation. Produced using renewable energy and sustainable feedstocks, it significantly reduces greenhouse gas emissions compared to grey methanol, which is derived from natural gas or coal.
Shanghai has recently conducted several methanol bunker operations, and this upcoming plant could boost the availability of green methanol for shipping in the region.
The global dual-fuel methanol fleet currently consists of 50 vessels, with another 62 expected to join this year, according to data from classification society DNV.
