January 23, 2025 [The Daily Digest]- In China, South China Morning Post reports Hong Kong and China Gas (Towngas) and Singapore’s Global Energy Trading signed a memorandum of understanding to develop a green methanol supply chain across Asia, focusing on decarbonizing the shipping industry, which aims to reach net-zero carbon emissions by 2050.

Towngas began producing green methanol in 2023 at its Ordos plant in Inner Mongolia, using biomass and municipal waste. The plant is expected to produce 150,000 tonnes annually in 2025, with plans to double capacity through retrofitting and other measures. Green methanol has a carbon footprint 70–80% lower than fossil fuel-based methanol, according to the Methanol Institute.

Global Energy, Singapore’s first operator of dedicated methanol bunkering tankers, delivered 4.7 million tonnes of marine fuel in 2024.

Hong Kong’s green marine fuel action plan targets a reduction in emissions from registered ships by at least 11% by 2026 and aims for 7% of vessels to use eco-friendly fuels by 2030. Projections estimate that more than 200,000 tonnes of green marine fuel will be used annually in Hong Kong by 2030.

Towngas has also partnered with Foran Energy Group to build green methanol plants in Inner Mongolia, Guangdong, Hainan, and Fujian, with a combined annual capacity of 1 million tonnes.

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