Asia/Pacific News
Towngas to Build Green Methanol Plant in Foshan
Towngas plans to build a new green methanol plant in Foshan, aimed at supporting Hong Kong’s development as an alternative marine fuel bunkering hub.
The project will be developed by Towngas joint venture VENEX and is expected to increase the company’s green methanol production capacity to 500,000 mt/year by 2028, Towngas said in a LinkedIn post on Wednesday.
Towngas said the Foshan plant in Guangdong will use sugar cane bagasse and wood processing waste as feedstock through biomass gasification technology.
The first phase of the facility is scheduled to start operations in 2028 with an annual production capacity of 200,000 mt.
Together with the company’s existing Inner Mongolia plant, the projects will create a dual-production network across northern and southern China aimed at supporting marine fuel supply and shipping decarbonisation efforts.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 963.00 | 26.00 | 1351.50 | 10.50 |
| Rotterdam | 766.00 | 3.00 | 1446.00 | 11.50 |
| Houston | 817.00 | 11.50 | 1421.00 | 1.00 |
| Fujairah | 981.00 | 12.00 | 1768.50 | 17.50 |
| APAC Average | 1029.50 | 32.00 | 1478.50 | 13.50 |
| Global 20 Ports Average | 929.50 | 10.50 | 1565.00 | 13.00 |
| Global 4 Ports Average | 882.00 | 13.50 | 1496.50 | 9.50 |
| Global Average Bunker Price | 978.50 | 20.00 | 1616.50 | 18.50 |
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