GENA Solutions: Total renewable and low-carbon methanol project pipeline rises from 36.1 to 37.5 Mt by 2030

The Methanol Institute recently shared with Manifold Times the renewable and low-carbon methanol project pipeline September 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 September 2024 release are as follows:

•   The renewable methanol project pipeline increased from 28.0 Mt in August to 29.3 Mt in September (+1.3 Mt). The total renewable and low-carbon methanol project pipeline grew from 36.1 to 37.5 Mt.
•   As of September 2024, GENA tracks 105 e-methanol plants and projects with total capacity of 17.0 Mt (+0.2 Mt), 73 biomethanol plants and projects with total capacity of 12.3 Mt (+1.1 Mt), and 14 low-carbon methanol plants and projects with total capacity of 8.1 Mt.
•   Seven projects were added in the September release: five in China, one in Europe and one in India. Two frozen projects were excluded from Project Navigator.
•   China continues to rapidly expand its renewable methanol capacities. In September, the total capacity of renewable methanol projects in China reached 14.6 Mt, accounting for 50% of the global project pipeline. China will likely export a substantial portion of its renewable methanol production.
•   From February to September 2024, the renewable methanol project pipeline increased by 9.6 Mt (+49%) or by 1.4 Mt per month. Compared to January 2023, it has more than tripled (8.3 Mt vs. 29.3 Mt).
•   The likely range of renewable methanol capacity by 2030 is estimated at 7-14 Mt (24-48% of the project pipeline).

Photo credits: GENA Solutions
Published: 2 October, 2024