The Hong Kong and China Gas Company Limited (Towngas), Sinopec (Hong Kong) and Sinopec Star Company have signed a memorandum of understanding (MoU) to establish a strategic partnership to collaborate on clean energy solutions, including hydrogen and green fuels, among other things.
The tripartite partnership will cover hydrogen business development, hydrogen refuelling station construction, liquid hydrogen storage and transport technology, hydrogen charging stations, green methanol shipping applications, and sustainable aviation fuel (SAF) development.
The companies plan to also explore the establishment of a joint venture (JV) aimed at pooling resources, accelerating hydrogen project delivery, improving Hong Kong’s hydrogen infrastructure, and building a competitive industrial ecosystem.
“This cooperation represents a partnership among three parties with complementary strengths and aligned objectives. We will leverage our respective advantages in resources, technology and markets to expedite key projects, including hydrogen refueling stations, hydrogen vehicle promotion, green methanol shipping applications and SAF supply,” said Wu Qinggao , Director and General Manager of Sinopec (Hong Kong) Limited.
“This will accelerate the commercialization of hydrogen and low-carbon fuels, providing reliable support for Hong Kong’s green transport, maritime and aviation energy transition, actively responding to the HKSAR Government’s energy policies and national dual carbon goals, and working together towards Hong Kong’s 2050 carbon neutrality vision.”
According to Towngas, the partnership represents a market response to China’s 15th Five-Year Plan which designates hydrogen as a strategic emerging industry and sets out the development direction for green methanol and SAF, as well as HKSAR Government’s work towards the establishment of relevant strategies to encourage green research and technology commercialization.
Last summer, Towngas signed a strategic partnership agreement with clean energy equipment and services provider CIMC ENRIC to jointly develop green methanol and hydrogen energy.