EMEA News
Cepsa Signs Green Methanol Storage Deal for Algeciras and Rotterdam
Spanish energy company Cepsa has signed a deal with storage firm Evos to take on green methanol capacity at Algeciras and Rotterdam.
Under the deal, green methanol produced by Cepsa will be stored at Evos facilities in Algeciras and Rotterdam, Cepsa said in an emailed statement on Wednesday. The agreement also envisages green ammonia being stored at the Algeciras facility.
"Through strategic partnerships, Cepsa is building a network of green molecule supply stretching from Spain to northern Europe," Maarten Wetselaar, CEO of Cepsa, said in the statement.
"This alliance with Evos provides crucial storage infrastructure which will enable the flow of green methanol produced in southern Spain into northern Europe, reinforcing the viability of our large-scale green hydrogen projects.
"Last year, we announced the development of one of the largest green methanol projects in Europe as part of our Andalusian Green Hydrogen Valley, and this new partnership provides us with the end-to-end solution to bring these green molecules to our customers in Northwest Europe as we support decarbonization efforts across the continent."
Methanol is rapidly gaining in popularity as an alternative marine fuel, driven in large part by the container segment's confidence in it, with orders of methanol-fuelled tonnage now coming in regularly from a variety of shipping segments. The main challenge for this market will be the scaling-up of green methanol supply in time to meet the needs of the new ships as they are delivered.
