Asia/Pacific News
Towngas and Global Energy Join Forces for Green Methanol in Shipping
The Hong Kong and China Gas Company Limited (Towngas) and Global Energy Trading (Global Energy) have signed a memorandum of understanding to develop green methanol solutions across Asia.
As part of the collaboration, the two companies aim to advance the supply and distribution of green methanol as a marine fuel at major and regional ports, Towngas said in a statement on its website on Monday.
Towngas operates a methanol plant in Ordos, Inner Mongolia, converting biomass and municipal waste into green methanol.
It is the first Chinese firm to achieve ISCC certification for green methanol. The company aims to expand nationwide, targeting 1 million mt/year of green methanol and chemicals.
Meanwhile, Global Energy operates a methanol bunkering vessel in Singapore, enabling it to supply several methanol stems in the region. In addition to alternative fuels, the company remains active in conventional marine fuel, delivering 4.7 million mt of bunker fuels in 2024.
“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,” Sham Man-fai, COO at Towngas Green Fuels & Chemicals, said.
