EMEA News
HyFive Secures Offtake Term Sheet for Up to 50% of Spanish E-Methanol Plant
Spanish renewable energy firm HyFive has signed a term sheet for the offtake of up to 50% of production from its Musel GreenMet e-methanol project in Spain.
The agreement suggests the market is beginning to move beyond early expressions of interest toward more tangible commercial commitments, HyFive said in a press release last week.
While progress has been slower than some had expected, activity is picking up as projects advance, it said.
The company added that its approach of developing projects in major port locations helps keep costs competitive by tapping into existing infrastructure and streamlining logistics.
At the same time, European regulation, including RED III, FuelEU Maritime and ReFuelEU Aviation, is expected to drive demand for renewable fuels such as e-methanol and methanol-to-jet SAF.
Hy5 also pointed to a growing risk of tight supply.
A relatively small number of credible large-scale projects, combined with long development timelines and high capital requirements, means not all announced capacity is likely to materialise before 2030.
That dynamic is starting to shape behaviour in the market, with some buyers moving earlier to secure supply rather than waiting for greater certainty.
The plant is expected to produce 100,000 mt/year of e-methanol at the port of Gijon.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
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| Rotterdam | 847.50 | 32.00 | 1358.50 | 71.00 |
| Houston | 836.50 | 20.00 | 1315.50 | 11.00 |
| Fujairah | 1074.50 | 29.50 | 1744.50 | 53.00 |
| EMEA Average | 941.50 | 16.50 | 1481.00 | 19.00 |
| Global 20 Ports Average | 1053.00 | 4.50 | 1601.50 | 0.00 |
| Global 4 Ports Average | 943.50 | 18.00 | 1560.00 | 11.00 |
| Global Average Bunker Price | 1068.00 | 19.00 | 1532.00 | 7.00 |
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