THE HONG Kong and China Gas Company (Towngas) and Global Energy Trading (Global Energy) have signed a memorandum of understanding to jointly advance the supply and distribution of green methanol as a marine fuel for the shipping industry.
The strategic collaboration between the two oil and gas players will see integrated production and logistics capabilities to provide end users with end-to-end solutions at major and regional ports.
Towngas, a major provider of gas in Hong Kong, will leverage complementary strengths alongside Singapore’s Global Energy to develop comprehensive green methanol supply solutions across Asia.
Commenting on the collaboration, Sham Man-fai, chief operating officer of green fuels & chemicals at 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.”
Loh Hong-leong, managing director of Global Energy, commented on the collaboration, “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 said its methanol production plant in Ordos, Inner Mongolia, which employs 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.
As a leading bunker supplier, Global Energy delivered over 4.7 million tonnes of marine fuels in 2024.
