China: Methanol industry players ink agreement to form green methanol energy corridor
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by Admin
Energy firm National Inner Mongolia Electric Power Mengxi New Energy Co Ltd, Shanghai Yuanba Energy Technology Co Ltd, Tianjin Bohai Chemical Group Co Ltd, and COSCO Shipping Energy Transportation Co Ltd on Tuesday (6 February) jointly signed an cooperation framework agreement in Shanghai to establish a “green product (energy) corridor project” for the entire green methanol industry chain.
Manifold Times has previously reported Cosco Shipping Energy Transportation entered a shipbuilding contract for six methanol-fuelled tankers with Cosco Shipping Heavy Industry while Cosco Shipping reportedly signed a Memorandum of Understanding (MoU) to explore collaboration in methanol bunker fuel amongst other new areas.
On 15 December 2023, Shanghai Yuanba Energy Technology signed an agreement with Greece’s Marine Plus S.A. for purchasing Yuanba Energy’s green methanol for the EU shipping market, starting in August 2025.
According to local news reports, Tianjin Bohai Chemical Group and National Inner Mongolia Electric Power Mengxi New Energy are involved in methanol-related projects including the production of hydrogen.
As part of the agreement, the four parties signed the contract to build a green energy corridor for the entire green methanol industry chain.
The firms said the signing of this agreement marked a new milestone in establishing and improving the entire green methanol industry chain.
Pooling together their respective resources and industry knowledge, the parties will work together to carry out comprehensive and in-depth cooperation in green energy products including power generation, hydrogen production, synthetic methanol, land transportation, warehousing, shipping and bunkering.
Disclaimer: The above article published by Manifold Times was sourced from China’s domestic market through a local correspondent. While considerable efforts have been taken to verify its accuracy through a professional translator and processed from sources believed to be reliable, no warranty is made regarding the accuracy, completeness and reliability of any information.
Related: China: Cosco Shipping and bp to explore collaboration in methanol bunker fuel
Related: Cosco Shipping Energy Transportation orders six methanol-fuelled tanker newbuilds
Photo credit: Scott Graham on Unsplash
Published: 19 February, 2024
