In China, VENEX Company Limited, a joint venture of Towngas and Foran Energy, signed a strategic cooperation agreement on October 13 with Veolia and SIPG Energy to build a full-scale green methanol fuel supply chain serving the port and shipping industry.
The partnership aims to link methanol production, transport, and bunkering through an end-to-end distribution network. VENEX will contribute its expertise in methanol production and operations, Veolia will bring global experience in energy decarbonization, and SIPG will provide port infrastructure and fuel delivery capacity.
“VENEX will play an integral role in building the green fuel industry ecosystem,” said Peter Wong Wai-yee, Managing Director of Towngas and Chairman of VENEX. “In partnership with Veolia and SIPG, VENEX will advance the systematic development of green methanol supply chains.”
Veolia CEO Estelle Brachlianoff called the deal “fully in line with the GreenUp strategic program,” while SIPG Vice President Yang Zhiyong said the group aims to make Shanghai Port “a flagship green fuel hub.”
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Category: Sustainable Marine Fuels
