Methanol

Egypt and A.P. Moller-owned C2X ink agreement for large scale green methanol production

‘Egypt has many natural advantages that support a world class green methanol project including access to low-cost renewables and proximity to Suez Canal and maritime customers,’ says Brian Davis of C2X.

Published

1 year ago

October 5, 2023

Admin

C2X, a new, independent company backed by A.P. Moller Holding, A.P. Moller-Maersk’s majority owner, on Wednesday (4 October) said it signed a comprehensive Framework Agreement (FWA) with its Egyptian sponsors and partners to enable and accelerate large scale production of green methanol in Egypt.

C2X is aiming to build, own, and operate assets to produce green methanol at scale with A.P. Moller Holding as majority owner and A.P. Moller - Maersk as minority owner.

The Framework Agreement is deepening the partnership and joint efforts for C2X to establish the project, which is strategically located close to the Suez Canal, in collaboration with the General Authority for Suez Canal Economic Zone (SCZone), the Egyptian New and Renewable Energy Authority (NREA), the Egyptian Electricity Transmission Company (EETC), and the Sovereign Fund of Egypt for Investment and Development (TSFE).

The efforts will include the establishment of projects for generating green energy from wind and solar sources.

Brian Davis, Chief Executive Officer of C2X, said: “This is an important step forward for the global transition to green methanol. Egypt has many natural advantages that support a world class green methanol project including access to low-cost renewables and proximity to the Suez Canal and maritime customers.”

“Signing of the Framework Agreement today marks another important milestone in realising our ambition to be a leading producer of green methanol. We thank the Government of Egypt and our Egyptian Sponsors for their continued support and look forward to working with them to make our project a success we can all be proud of.”

Mr. Waleid Gamal El-Dien, SCZONE's Chairman, said: “Today's FWA is the 10th framework agreement within Memorandums of Understanding signed by SCZONE which aims to transform to a green economy and its various industrial applications, making use of its capabilities related to the integration of its ports with affiliated industrial zones.”

Manifold Times previously reported C2X announcing its plans to have an annual production capacity of more than three million tonnes by 2030.

C2X is majority owned by A.P. Moller Holding with Maersk as a 20% shareholder, together providing a solid foundation for the company. Maersk has the intention to source green methanol from C2X.

Photo credit: C2X
Published: 5 October, 2023

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Alternative Fuels

South Korea launches USD 696 million green bunker fuel infrastructure fund

Out of KRW 1 trillion, KRW 600 billion will be invested to build port storage facilities capable of supplying alternative marine fuels while KRW 400 billion will be used for constructing four bunkering vessels.

Published

15 hours ago

January 22, 2025

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South Korea launches USD 696 million green bunker fuel infrastructure fund

South Korea’s Ministry of Oceans and Fisheries and Korea Ocean Business Corporation recently held a launch ceremony in Seoul for a KRW 1 trillion (USD 696 million) infrastructure fund that will be used to support the development of storage facilities for green marine fuels and bunkering vessels.

Out of the KRW 1 trillion, KRW 600 billion will be invested to build port storage facilities capable of supplying LNG, methanol, and ammonia, and the remaining KRW 400 billion will be invested in constructing four new LNG and ammonia bunkering vessels by 2030.

The move is expected to meet growing demand for green bunker fuels for domestic vessels and ensure reliable fuel supplies for foreign ships calling at domestic ports.

The ministry also announced that the Ulsan Hyundai Liquid Cargo Terminal Expansion Project was selected as the new fund’s first project to support the demand for methanol bunker fuel for domestic and foreign vessels. The total cost of the project is KRW 240 billion, of which KRW 130 billion will be provided by the infrastructure fund.

In addition, the government plans to strengthen LNG supply capabilities through the Yeosu Myodo LNG Hub Terminal Project scheduled as the second project to be supported by the fund.

Minister of Oceans and Fisheries Kang Do-hyung, said: “Through the infrastructure fund, the government will flexibly expand the eco-friendly ship fuel supply infrastructure in line with future demand so that our ports can continue to secure a competitive edge as a global hub port.”

Photo credit: Ministry of Oceans and Fisheries of South Korea
Published: 22 January, 2025

Methanol

Singapore-based Global Energy, Towngas to develop green methanol bunker fuel supply chain

Both inked a memorandum of understanding to jointly advance supply and distribution of green methanol as a marine fuel for the shipping industry.

Published

2 days ago

January 21, 2025

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Singapore-based Global Energy, Towngas to develop green methanol bunker fuel supply chain

The Hong Kong and China Gas Company Limited (Towngas) on Monday (20 January) said it has signed a memorandum of understanding (M0U) with Singapore accredited bunker supplier Global Energy Trading Pte Ltd (Global Energy) to jointly advance the supply and distribution of green methanol as a marine fuel for the shipping industry.

The strategic collaboration between Towngas and Global Energy integrates production and logistics capabilities to provide end users with a holistic, end-to-end solution at major and regional ports.

The two parties will leverage complementary strengths to develop comprehensive green methanol supply solutions across Asia.

Mr Sham Man-fai, Chief Operating Officer – Green Fuels & Chemicals of Towngas, said: “This partnership represents a significant milestone in the green transition of maritime fuel supply.”

“By combining Towngas’s strengths in green methanol production with Global Energy’s supply chain management and market operation expertise, we are creating a robust platform to accelerate the shipping industry's decarbonisation journey.”

Mr Loh Hong-leong, Managing Director of Global Energy, said, “This collaboration is synergy in motion; together we are creating a one-stop bunkering solution to ensure green methanol is more accessible to the maritime industry.”

“Beyond supply, we could offer advisory on compliance and in managing the benefits of using green methanol.”

Towngas' methanol production plant in Ordos, Inner Mongolia

Towngas’s methanol production plant in Ordos, Inner Mongolia, employing proprietary technology to convert biomass and municipal waste into green methanol, is the first enterprise on the Chinese mainland to achieve ISCC EU and ISCC PLUS certifications for green methanol.

The company has outlined expansion plans to establish additional production bases across China, including in Inner Mongolia, the Greater Bay Area, and Hainan, with the goal of achieving an annual production capacity of 1 million tonnes of green fuel and chemical supplies.

Global Energy, the first company in Singapore to own and operate dedicated bunkering tankers for methanol, has already conducted several methanol bunkering operations in the region. Global Energy delivered over 4.7 million metric tonnes (mt) of marine fuels in 2024.

Photo credit: Hong Kong and China Gas Company
Published: 21 January, 2025

Alternative Fuels

Fratelli Cosulich orders another methanol-ready bunker tanker from Chinese shipyard

Firm placed an order for another methanol-ready chemical bunkering tanker, designed to carry fuel oil, biofuels up to B100, and methanol, with Taizhou Maple Leaf Shipbuilding.

Published

2 days ago

January 21, 2025

Admin

Fratelli Cosulich Group on Monday (20 January) said it has placed an order for another methanol-ready chemical bunkering tanker with Taizhou Maple Leaf Shipbuilding.

The 7,999 dwt IMO Type II chemical bunkering tanker is designed to carry fuel oil, biofuels up to B100, and methanol.

“The delivery of this methanol-ready vessel is scheduled for Q4 2026,” it said in a statement.

With this latest order, the total number of methanol-ready barges in the company’s fleet will increase to four.

“We strongly believe in a multi-energy future and are dedicated to staying ahead of the curve with the latest developments and technological innovations in the shipping industry,” it added.

Manifold Times previously reported Fratelli Cosulich placing an order for two advanced methanol-ready chemical bunkering tankers with the same shipbuilder.

The company ordered its first methanol dual-fuelled chemical bunker tanker on 15 December 2023. The vessel will be delivered in the last quarter of 2025 and will be located at the Port of Singapore under a contract with global commodities trader Trafigura.