Towngas signs green methanol MOUs with parties including TLB to support Hong Kong’s development as green maritime fuel centre

Guests including Ms Mable Chan (2nd from right, front row), Secretary for Transport and Logistics, and  Mr Peter Wong Wai-yee (2nd from left, front row), Towngas Executive Director, and Mr Sham Man-fai (2nd from right, back row), Towngas Chief Operating Officer – Green Fuel and Chemicals, participating in the Mainland Hong Kong Green Energy Matchmaking Event at the Central Government Offices, organised by the Commercial Office of the Economic Affairs Department of the Liaison Office of the Central People’s Government in the Hong Kong Special Administrative Region.

The Hong Kong and China Gas Company Limited (Towngas) participated in the Mainland Hong Kong Green Energy Matchmaking Event at the Central Government Offices, organised by the Commercial Office of the Economic Affairs Department of the Liaison Office of the Central People’s Government in the Hong Kong Special Administrative Region. Towngas signed memoranda of understanding (MOUs) with both the Transport and Logistics Bureau (TLB) and Pacific Basin Shipping Limited (Pacific Basin), supporting the HKSAR Government’s initiative to develop Hong Kong as a green maritime fuel bunkering and trading centre.
 

Green methanol represents a near-zero carbon option for the shipping industry to comply with international green maritime fuel regulations. Green methanol produced by Towngas’s subsidiary uses scrap tyres and agricultural and forestry waste as production feedstock, and has obtained multiple international certifications, including ISCC EU, ISCC PLUS, and ISO6583. Towngas is China’s first enterprise to achieve both ISCC EU and ISCC PLUS dual certification whilst commencing large-scale green methanol production.
 

Under the MOU signed with the Transport and Logistics Bureau, Towngas, as a green maritime fuel producer, will actively supply marine green methanol fuel that complies with current international standards for delivery, bunkering, export, and trading in Hong Kong. The Company will use Hong Kong as a trading and settlement hub, supporting the territory’s development of a green maritime fuel trading market.
 

The Transport and Logistics Bureau will incorporate Towngas into Hong Kong’s green maritime fuel business cooperation platform, facilitating connections with stakeholders interested in purchasing green maritime fuel, including bunkering operators, liner companies, and other third-party enterprises or institutions, with the aim of developing green maritime fuel-related business in Hong Kong and connecting to international markets.
 

Simultaneously, Towngas signed an MOU with local shipping company Pacific Basin, establishing a framework for green methanol supply cooperation. Towngas will supply green methanol to Pacific Basin to help its fleet comply with EU and International Maritime Organization carbon emission reduction requirements.
 

To support green methanol market deployment, Towngas had earlier signed an MOU with Chimbusco in November last year, establishing a complete green methanol supply chain in Hong Kong.
 

Mr Peter Wong Wai-yee, Towngas Managing Director, stated, “The two MOUs signed today with the HKSAR Government and Pacific Basin mark another step forward for Towngas on the path of green energy transformation. We have consistently provided clean, sustainable fuel solutions for the global shipping industry, supporting Hong Kong’s achievement of carbon neutrality goals and assisting the Government in building a green maritime fuel bunkering centre, thereby consolidating Hong Kong’s position as an international shipping centre.”
 

Mr Martin Fruergaard, Chief Executive Officer of Pacific Basin, said, “Our collaboration with Towngas represents important progress in our efforts to enhance our priority access to increasing and eventually very large volumes of green fuels, including green methanol, that ships will need to comply with tightening maritime decarbonisation regulations. Towngas has proven production capabilities, a strong commitment to innovation and decarbonisation, and a deep understanding of shipping’s green fuel needs which, combined with its expansion plans and role in Hong Kong and China’s green marine fuel bunkering ambitions, make Towngas an ideal partner for us.”
 

Towngas’s green methanol production facility is located in Inner Mongolia, where the product produced recently completed bunkering operations at Shanghai Port—the first large-scale bunkering operation and currently Asia’s largest green methanol bunkering project.
 

Towngas will continue to increase green methanol production capacity to meet the shipping industry’s growing demand for green methanol. The Inner Mongolia facility’s annual capacity is expected to increase from 100,000 tonnes to 150,000 tonnes by the end of this year. Additionally, the Group, together with Foran Energy, plans to build multiple green methanol production facilities on the mainland, targeting an annual capacity of one million tonnes. The Foshan facility is expected to achieve an initial annual capacity of 200,000 tonnes in its first phase by 2028.  

source: The Hong Kong and China Gas Company Limited

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