China's Goldwind claims shipping industry's 'first major green methanol supply deal' with Maersk
Wind group says offtake agreement to enable FID on facility in northeast China
Chinese wind giant Goldwind has nailed down what’s claimed as the global shipping industry’s first large-scale offtake agreement for green methanol after signing a deal with Maersk.
Maersk will from 2026 take 500,000 tonnes a year of the green fuel, which will be manufactured with the aid of green hydrogen produced from wind power at a new plant planned by Goldwind in Hinggang League, northeast China. The Chinese group said it now expects to take a final investment decision on the facility by the end of the year.
Danish shipping giant Maersk said the green biomethanol and e-methanol would underpin fuelling for the first 12 methanol powered vessels it currently has on order.
Global shipping produces around 3% of worldwide carbon dioxide emissions.
Green methanol, which can be made using either biomass gasification or via hydrogen produced using renewable electricity and captured carbon dioxide, is seen as having major potential to cut emissions from the sector.
Maersk chief infrastructure officer Rabab Raafat Boulos said: “We are encouraged by the agreement because its scale and price confirm our view that green methanol currently is the most viable low-emission solution for ocean shipping that can make a significant impact in this decade.
“The deal is a testament to the momentum and vast efforts we see among ambitious developers driving projects forward across geographies, however, we still have a long way to go in ensuring a global green fuels market that can enable the decarbonisation of global shipping.”
Maersk has been active around the world in laying the groundwork for potential green fuels supply lines for its future fleet as it prepares to take delivery of its first large methanol-enabled vessel in 2024. It has already brought one vessel into service that uses e-methanol.