Hamburg, Germany | October 22, 2025 – German marine fuels specialist ElbOil has taken a major step toward maritime decarbonization by signing a Memorandum of Understanding (MoU) for the long-term supply of green methanol during the 8th International Petroleum and Natural Gas Enterprises Conference (IPEC 2025) in Zhoushan, China.
Strategic Green Methanol Partnership
Under the MoU, ElbOil will collaborate with key Chinese partners — Shandong Shunli Hydrogen Energy Technology Co., Ltd. (a subsidiary of Henan Shuncheng Group) and Shanghai Wenji Biotechnology Co., Ltd. — to support the production, distribution, and domestic trade of renewable methanol.
Starting in early 2027, the partnership aims to supply up to 1 million metric tons of green methanol annually, significantly contributing to the maritime industry’s transition toward cleaner bunker fuels.
The project will utilize Carbon Recycling International’s technology, which converts captured CO₂ into low-carbon methanol — a model aligned with global circular economy and carbon capture initiatives.
Driving Decarbonization and Global Expansion
The signing event in Zhoushan — one of Asia’s fastest-growing bunkering hubs — underscores ElbOil’s commitment to innovation and sustainability within the global marine fuels market.
“This MoU marks more than a commercial agreement; it’s a shared commitment to drive innovation, sustainability, and long-term impact in the maritime energy sector,” shared ElbOil.
ElbOil has also announced plans for a project site visit in early 2026, reinforcing its hands-on approach to partnership development and responsible trading practices in the green fuels sector.
The agreement highlights ElbOil’s belief that international collaboration is essential to scaling alternative fuels and achieving real progress in shipping decarbonization.
About ElbOil
ElbOil GmbH, founded in 2011 and headquartered in Hamburg, Germany, is a global marine fuels company specializing in trading, brokering, and hedging services. The company supplies marine fuels such as VLSFO and MGO, while actively expanding into biofuels and green methanol as part of its sustainability strategy.
ElbOil holds ISCC EU certification, enabling certified sustainable biofuel trading, and has invested in carbon offset initiatives such as ESG-NRG to further its decarbonization goals.
Global Presence
ElbOil operates from several key maritime centers:
- Hamburg, Germany (Headquarters)
- Zug, Switzerland
- London, UK (ElbOil UK Ltd)
- Singapore (ElbOil Singapore Pte Ltd)
- Dubai, UAE
- Shanghai, China (Representative Office, opened in 2025)
Since its founding, ElbOil has expanded steadily into Asia and beyond, reinforcing its reputation as a trusted partner in the evolving marine energy landscape.
Source: Elboil