EMEA News
European Energy and Mitsui Sign E-Methanol Offtake Deal with OMV
European Energy and Mitsui & Co. have signed a multi-year agreement with OMV for the offtake of e-methanol from the Kassø facility in Denmark.
The agreement was signed through their joint venture Solar Park Kassø (SPK), the company said in a press release on Thursday.
The 42,000 mt/year Kassø e-methanol facility began operations earlier this year.
European Energy is also among the suppliers with which A.P Moller-Maersk has secured long-term offtake agreements to support its methanol-fuelled fleet. Under a 2021 agreement, Maersk committed to purchase 10,000 mt of e-methanol from the Kasso facility.
The deal is the fourth publicly announced offtake agreement for Kassø, following agreements with Maersk, the LEGO Group and Novo Nordisk.
The e-methanol will be certified as a Renewable Fuel of Non-Biological Origin (RFNBO), with the agreement requiring greenhouse gas savings significantly above the minimum RFNBO threshold.
The first delivery to OMV has already been completed, meaning the agreement is now being implemented
Torben Nørgaard, vice president and head of partnerships and offtake in Power-to-X at European Energy, told Ship & Bunker in an interview this week that the Kassø plant is running at full capacity.
SPK is owned 51% by European Energy and 49% by Mitsui & Co.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 890.00 | 9.50 | 1243.00 | 35.50 |
| Rotterdam | 682.50 | 13.00 | 1340.00 | 15.50 |
| Houston | 745.50 | 3.00 | 1370.00 | 1.00 |
| Fujairah | 979.50 | 5.00 | 1676.50 | 11.50 |
| EMEA Average | 865.50 | 3.50 | 1635.50 | 44.50 |
| Global 20 Ports Average | 876.50 | 0.00 | 1500.00 | 8.50 |
| Global 4 Ports Average | 824.50 | 1.00 | 1407.50 | 10.00 |
| Global Average Bunker Price | 930.50 | 1.50 | 1567.00 | 17.50 |
Popular Now More
-
Oct 07EIA cites Saudi pipeline attacks and tight diesel markets, and lifts every 2027 quarter by $10/bbl. -
Oct 06Camilo Angulo Ferrand tells Ship & Bunker that its long-term crude and refining contracts should help keep availability stable in the region despite the Iran war.