GENA Solutions: Total renewable and low-carbon methanol project pipeline rises from 35.4 to 36.1 Mt by 2030

The Methanol Institute recently shared with Manifold Times the renewable and low-carbon methanol project pipeline August 2024 database release produced by Finland-based GENA Solutions Oy (Green Energy Analytics).

Information from the release is meant to provide the bunkering publication’s readers with insight on renewable methanol availability, and to assist the maritime industry in the adoption of methanol as a mainstream marine fuel heading into IMO 2030/2050.

Key highlights of the August 2024 release are as follows:

• The renewable methanol project pipeline increased from 27.2 Mt in July to 28.0 Mt in August (+0.8 Mt). The total renewable and low-carbon methanol project pipeline grew from 35.4 to 36.1 Mt.
• As of August 2024, GENA tracks 104 e-methanol plants and projects with total capacity of 8 Mt (+0.3 Mt), 70 biomethanol plants and projects with total capacity of 11.2 Mt (+0.5 Mt), and 13 low-carbon methanol plants and projects with total capacity of 8.1 Mt.
• From February to August 2024, the renewable methanol project pipeline increased by 8.3 Mt (+42%) or by 1.4 Mt per month. Compared to January 2023, it has more than tripled (8.3 Mt vs. 28 Mt).
• Five renewable methanol projects were added in the August release: four in China and one in Europe. One project (Flagship ONE) was excluded.
• The total capacity of projects after FID and operational plants stands at 1.6 Mt for biomethanol, 0.7 Mt for e-methanol, and 0.45 Mt for low-carbon methanol.
• Considering barriers and challenges in project development, renewable methanol capacity will likely be in the range of 7-14 Mt by 2030 (25-50% of the project pipeline).

Photo credits: GENA Solutions
Published: 28 August 2024