EMEA News
UAE Methanol Plant Secures $2 Billion Financing
The TA’ZIZ Methanol Company, a joint venture between Abu Dhabi-based TA’ZIZ and methanol producer Proman, has secured $2 billion in financing for a new methanol plant in the UAE.
The project, located in Al Ruwais Industrial City in Abu Dhabi, is described as the UAE’s first world-scale methanol plant, Proman said in an emailed update on Thursday.
The financing package includes a five-year $1.8 billion syndicated loan and a $200 million Islamic facility backed by 11 regional and international banks.
The plant is expected to start operations in the third quarter of 2028 and will produce 1.8 million mt/year of methanol.
Proman has also signed a long-term agreement to market the plant’s methanol production through its marketing arm Valenz.
Methanol is seen as one of the more practical alternative fuels because it can be handled using relatively familiar infrastructure compared with some other emerging marine fuels.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 917.00 | 10.00 | 1295.00 | 34.00 |
| Rotterdam | 742.00 | 5.50 | 1435.50 | 54.00 |
| Houston | 765.00 | 2.00 | 1408.00 | 12.00 |
| Fujairah | 986.00 | 1.50 | 1725.50 | 38.50 |
| EMEA Average | 895.50 | 1.00 | 1721.00 | 29.50 |
| Global 20 Ports Average | 902.00 | 6.00 | 1547.50 | 29.50 |
| Global 4 Ports Average | 852.50 | 4.00 | 1466.00 | 34.50 |
| Global Average Bunker Price | 950.50 | 2.50 | 1606.00 | 21.00 |
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