The Hong Kong and China Gas Company Limited (Towngas) and Chimbusco Pan Nation Petro-Chemical Company Limited (CPN) have signed a Memorandum of Understanding to promote green methanol as a marine fuel. This partnership aims to accelerate the adoption of green methanol, supporting the maritime industry’s green transition and bolstering Hong Kong’s status as a green maritime hub.
Key Details of the Partnership
Under the MOU, Towngas will supply its certified green methanol to CPN, which will oversee its distribution to domestic and international customers. Towngas will also support technical inquiries and provide product certification documents, ensuring a seamless transition for users of green methanol fuel.
The collaboration aligns with Hong Kong’s recently announced Action Plan on Green Maritime Fuel Bunkering, which seeks to position the city as a leader in green shipping solutions.
Mr. Edmund Yeung Lui-ming, Executive Director and Chief Financial Officer of Towngas, emphasized the growing demand for green methanol as the shipping industry seeks to meet global decarbonization goals. He stated, “Towngas is committed to expanding its green methanol production capacity and, through industry collaboration, responding to the Government’s recently promulgated Action Plan on Green Maritime Fuel Bunkering to contribute to Hong Kong’s development as a green maritime fuel bunkering centre.”
Mr. Calvin Chung Dik-hong, Director and Deputy General Manager of CPN, highlighted the significance of this partnership, saying, “Implementing green methanol development is a crucial step in realising the Action Plan on Green Maritime Fuel Bunkering. As Hong Kong’s largest bunker fuel supplier and trading house, CPN actively pursues long-term development plans for alternative marine fuels with partners, helping to strengthen and enhance Hong Kong’s maritime industry advantages and contribute to establishing Hong Kong as a green port.”
Towngas’ Green Methanol Capabilities
Towngas stands out as the first enterprise on the Chinese mainland to obtain ISCC EU and ISCC PLUS certifications for green methanol. Its production facility in Ordos, Inner Mongolia, uses cutting-edge proprietary technology to convert biomass and municipal waste into green methanol. The plant is on track to produce 150,000 tonnes of green methanol annually by 2025, serving the maritime and chemical industries.
Towngas plans to increase this capacity to 300,000 tonnes annually through facility retrofits and process enhancements, aligning with the International Maritime Organization (IMO)’s goal of achieving net-zero carbon emissions from international shipping by 2050.
A Strategic Move for Hong Kong Maritime
This collaboration between Towngas and CPN underscores Hong Kong’s commitment to sustainability and its ambition to lead the green fuel transition in Asia. By leveraging Towngas’ advanced production capabilities and CPN’s extensive distribution network, the partnership sets the stage for broader adoption of green methanol in the shipping industry.
About Towngas
Towngas is a leading energy supplier with a strong focus on innovation and sustainability. The company pioneers green fuel solutions and aims to play a pivotal role in the global energy transition.
About Chimbusco Pan Nation Petro-Chemical Co.,
Chimbusco Pan Nation Petro-Chemical Co., Ltd is a premier bunker supplier headquartered in Hong Kong, with a global presence spanning Asia, America, and Europe, catering to vessels operating worldwide. Since our establishment in 1991, we have emerged as the foremost physical bunker supplier in Hong Kong, renowned for our efficient delivery of professional services and high-quality products.
In 2005, we solidified our position by forming a strategic joint venture with China Marine Bunker (PetroChina) Co., Ltd. (CHIMBUSCO), a key player in the Chinese marine fuel supply sector, thereby extending our reach from Hong Kong to China. With our headquarters in Hong Kong as the cornerstone, we have expanded our reach globally, from Asia to Europe and the Americas, to meet the diverse needs of vessels across the globe. Evolving from our origins as a physical supplier, we are committed to further expanding our services to offer comprehensive global bunker supply solutions, cementing our position as your trusted worldwide bunker partner.