GENA Solutions: Total renewable and low-carbon methanol project pipeline rises from 37.5 to 38.6 Mt by 2030

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

•   The renewable methanol project pipeline increased from 29.3 Mt in September to 30.5 Mt in October (+1.2 Mt). The total renewable and low-carbon methanol project pipeline grew from 37.5 to 38.6 Mt.
•   As of October 2024, GENA tracks 108 e-methanol plants and projects with total capacity of 18.0 Mt (+1.0 Mt), 75 biomethanol plants and projects with total capacity of 12.5 Mt (+0.2 Mt), and 14 low-carbon methanol plants and projects with total capacity of 8.1 Mt.
•   Six projects were added in the October release: three in China, two in Europe and one in Brazil. One frozen project was excluded from Project Navigator.
•   One biomethanol project has started construction during the last month. Currently 1.9 Mt of renewable methanol projects are under construction.
•   From February to October 2024, the renewable methanol project pipeline increased from 19.7 Mt to 30.5 Mt, an increase of 10.8 Mt (+55%).
•   The likely range of renewable methanol capacity by 2030 is estimated at 7-14 Mt (23-46% of the project pipeline).

Photo credits: GENA Solutions
Published: 1 November, 2024