Shanghai is taking a major step toward becoming a regional hub for green methanol bunkering as VENEX Company Limited (VENEX), Veolia and SIPG Energy (Shanghai) Co team up to develop a full methanol supply and distribution network.
The initiative will integrate methanol production, logistics, and bunkering operations to create an end-to-end green fuel ecosystem, Towngas said in a statement.
The move aligns with China’s dual carbon strategy and efforts to decarbonise port and shipping activities.
Peter Wong Wai-yee, Managing Director of Towngas and Chairman of VENEX, said: “VENEX will play an integral role in building the green fuel industry ecosystem… to accelerate the maritime and port industries’ transition toward sustainable, green and low-carbon operations.”
Veolia CEO Estelle Brachlianoff said the firm aims to help the Port of Shanghai “become a global leader in the supply of sustainable green fuels,” while SIPG Vice President Yang Zhiyong said the partnership will help position the port as “a flagship green fuel hub.”
VENEX is a joint venture between Towngas and Foran Energy.
