India’s clean energy conglomerate Agastya Group recently said it has signed a strategic Memorandum of Understanding (MoU) with the Government of Andhra Pradesh for the development of Agastya’s green fuels hub at Mulapeta Port, Srikakulam District, Andhra Pradesh.

The project will establish a 1 million tonnes per annum (MMTPA) green methanol export-oriented unit (EOU) on the East Coast of India, positioning Andhra Pradesh as a global hub for sustainable marine fuels and green industrial products.

With an estimated investment of over ₹54,000 Crore (USD 6.5 billion), the Agastya Green Fuels Hub will integrate large-scale green hydrogen production, green methanol manufacturing, carbon capture, renewable energy, and port infrastructure.

“Strategically located in the Indian Ocean Region, the facility will serve key global markets including Japan, South Korea, Singapore, Europe, and other emerging green shipping corridors, supporting the decarbonization of international maritime transport and industrial sectors,” the firm said. 

The company added that the project represents a transformational step toward making India a net exporter of RFBNO RED III compliant green methanol to the world. 

Manifold Times previously reported Agastya Green Fuels signing a long-term green methanol offtake agreement with Sri Lankan bunker supplier SAR Maritime Agencies, a SAR Group company, for the supply of 250,000 metric tonnes (mt) per annum of EU RFNBO RED III Compliant green methanol.

Related: India’s Agastya inks green methanol offtake agreement with SAR Group

Photo credit: Agastya Group
Published: 11 June, 2026

Nordic energy company Gasum on Wednesday (10 June) said it has secured LNG terminal capacity at the Klaipeda LNG terminal in Lithuania for the period of 2033 to 2040. 

The long-term capacity reservation supports Gasum’s ability to supply the Northwestern European market with liquefied natural gas (LNG) and liquefied biomethane (bio-LNG) over the coming decade.

The Klaipeda terminal has been a part of Gasum’s supply chain for some time already. Gasum uses the Klaipeda terminal primarily as a reloading point for its own carrier and bunker vessels, but also to support the company’s natural gas operations in Finland and the Baltic countries.

Klaipeda is well located regarding the company’s own LNG terminal network in Finland, Sweden, and Norway. Gasum will also utilise the capacity to serve its maritime customers directly in and around the Danish straits.

“Securing capacity at Klaipeda supports Gasum’s strategic long-term supply capability and gives us flexibility in optimizing deliveries to our terminal network and maritime customers. It also underpins our commitment to being a dependable partner in the energy transition”, said Anders Malm, Senior Vice President, Supply & Trading, Gasum.

The capacity at Klaipeda can additionally be used for virtual liquefaction of pipeline fed biomethane into bio-LNG, through mass balancing and biomethane certificates. 

“Gasum believes this to be an important capability going forward, as a growing number of the company’s customers are seeking to reduce the lifecycle emissions of fuel further than what LNG alone can offer,” it added. 

Photo credit: KN Energies
Published: 11 June, 2026

Marine energy and lubricants physical supplier and trader Verde Marine Energy (VME) on Tuesday (9 June) announced that it has renewed its ISCC EU certification and is now fully REDIII compliant.

With the company’s certification as Trader with Storage and Proof of Compliance Trader, VME is ready to support shipowners, operators, charterers and traders with the supply of sustainable marine biofuels in line with the latest European renewable energy requirements. 

“As the regulatory landscape continues to evolve, we are committed to offering our customers reliable access to certified biofuels, transparent documentation, and a strong compliance framework,” the company said in a social media post. 

Photo credit: Verde Marine Energy
Published: 11 June, 2026