EMEA News
Hafnia Enters Blue Methanol Production Joint Venture
Product tanker operator Hafnia is to move into blue methanol production via an agreement with Texas-based hydrocarbons outfit Big Hill Materials.
The Oslo-listed company said in its fourth quarter results presentation that the joint venture with Big Hill is to develop a "sustainable hydrocarbon fuels plant (subject to FID) to produce low CI blue methanol and, at a later stage, sustainable aviation fuel (SAF)".
This project will develop new sustainable shipping opportunities within CO2, methanol and SAF, the company added.
Methanol is among the alternative bunker fuels under consideration by the shipping industry to reduce the sector's carbon footprint.
Blue methanol is produced using blue hydrogen in combination with carbon capture technology. Green methanol is made from biomass or captured carbon dioxide and green hydrogen.
