The Hong Kong and China Gas Company (Towngas) has signed a new agreement to work on developing comprehensive green methanol supply and distribution networks.
Towngas entered into a strategic green fuel supply cooperation agreement with Veolia and SIPG Energy through its joint venture with Foran Energy – VENEX – as an “active response to the national dual carbon goals and the strategic requirements for green transformation in the port and shipping industry” .
Under the agreement, the parties will work together to develop comprehensive green methanol supply and distribution networks, jointly building an end-to-end green fuel ecosystem that spans from production to bunkering.
The three parties intend to leverage VENEX’s green methanol production and operations knowledge, Veolia’s expertise in local decarbonizing energy solutions and its worldwide decarbonisation experience, and SIPG Group’s advantages in port energy infrastructure to develop comprehensive green methanol supply and distribution networks.
Through the coordinated development of the green methanol chain, the partnership is expected to deliver sustainable fuel solutions to port and shipping companies, progressively reducing the industry’s reliance on fossil fuels.
Peter Wong Wai-yee , Managing Director of Towngas and Chairman of VENEX, commented: “Leveraging our extensive expertise and operational excellence in green methanol production and management, VENEX will play an integral role in building the green fuel industry ecosystem. In partnership with Veolia and SIPG, VENEX will advance the systematic development of green methanol supply chains and distribution networks, contributing specialised knowledge and capabilities to accelerate the maritime and port industries’ transition toward sustainable, green and low-carbon operations.”
Estelle Brachlianoff , CEO of Veolia, stated: “Veolia is pleased to support the Port of Shanghai with its advanced technologies and proven know-how to become a global leader in the supply of sustainable green fuels and accelerate the decarbonisation of the port and maritime sector. This cooperation is fully in line with the GreenUp strategic program, which includes the development of local energy resources and cutting-edge environmental solutions.”
Yang Zhiyong , Vice President of SIPG, added: “As a leading force in port infrastructure, SIPG will leverage this strategic partnership as a pivotal opportunity to collaborate with Veolia and VENEX in developing a comprehensive green fuel supply ecosystem across the entire value chain. SIPG is committed to establishing Shanghai Port as a flagship green fuel hub , providing an essential strategic foundation for the decarbonisation of China’s maritime and port sectors.”