Asia/Pacific News
Maersk Green Methanol Supply Deal Mooted: Report
A supply deal for green methanol is being explored by Maersk and an Indian energy company.
According to a report in the trade news provider Machine Maker citing sources familiar with the talks, NTPC Green Energy is discussing a potential supply deal with the shipping group. The firm is a subsidiary of NTPC which is one India's biggest energy companies.
"Preliminary talks have been ongoing with several potential buyers, including Maersk, which is among the key prospects," one of the sources was quoted as saying in the report.
NTPC Green Energy has plans to develop a green fuels supply hub at Andhra Pradesh with an annual output for export of 2 million metric tonnes.
Green methanol is one of a number of alternative shipping fuels under consideration by shipping and energy firms. The production costs of alternative fuels vary. Fuels made from renewable sources of energy are typically greener but can cost more to produce. Producing fuel at scale should lower the cost of production.
