GENA Solutions: Total renewable and low-carbon methanol project pipeline rises from 38.6 to 39.9 Mt by 2030

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

•   The renewable methanol project pipeline increased from 30.5 Mt in October to 31.8 Mt in November (+1.3 Mt). The total renewable and low-carbon methanol project pipeline grew from 38.6 Mt to 39.9 Mt.
•   As of November 2024, GENA tracks 113 e-methanol plants and projects with total capacity of 18.7 Mt (+0.6 Mt), 77 biomethanol plants and projects with total capacity of 13.1 Mt (+0.7 Mt), and 14 low-carbon methanol plants and projects with total capacity of 8.1 Mt.
•   Eight projects were added in the November release: four in China, three in Europe and one in Africa. One project was excluded from the Project Navigator due to a change in the final product.
•   One e-methanol project has started construction in the last month. One small-scale e-methanol plant has started production. Currently, 2.6 Mt of renewable methanol facilities are either operational or under construction.
•   We estimate that renewable methanol capacity by 2030 could reach 7–14 Mt (22–44% of the project pipeline). However, a lack of long-term off-take agreements and insufficient state support may result in a lower capacity range of 3–7 Mt. 

Photo credits: GENA Solutions
Published: 2 December, 2024