Hong Kong | October 13, 2025 — In a landmark move to accelerate the green transformation of the global port and shipping industry, VENEX Company Limited, a joint venture between The Hong Kong and China Gas Company Limited (Towngas) and Foran Energy Group, has officially signed a Strategic Green Fuel Supply Cooperation Agreement with global environmental solutions leader Veolia and SIPG Energy (Shanghai) Co., Ltd., a subsidiary of Shanghai International Port Group (SIPG).
The partnership marks a significant step forward in supporting China’s “dual carbon” goals—its nationwide ambition to reach peak carbon by 2030 and achieve carbon neutrality by 2060. This tripartite alliance aims to develop an end-to-end green methanol fuel ecosystem, from production to bunkering, and to set a global benchmark in maritime decarbonisation.
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Driving the Green Methanol Supply Chain
Under the newly signed agreement, the three parties will combine their complementary strengths to create a comprehensive green methanol supply and distribution network:
- VENEX brings its deep expertise in green methanol production and operations, positioning it as a key supplier and technological backbone of the initiative.
- Veolia, with its proven global track record in decarbonisation and environmental services, will contribute innovative energy transition solutions tailored to the port and maritime context.
- SIPG Energy, leveraging SIPG’s world-class port infrastructure and energy management experience, will provide the logistical and operational foundation to establish Shanghai Port as a leading international green fuel hub.
Together, the partnership will enable sustainable fuel alternatives for shipping companies, progressively reducing the sector’s dependence on fossil fuels and fostering a low-carbon, circular economy for transportation and logistics.
Strategic Leadership Speaks: Powering the Transition to Green Methanol
Mr. Peter Wong Wai-yee, Managing Director of Towngas and Chairman of VENEX, remarked:
“Leveraging our extensive expertise and operational excellence in green methanol production and management, VENEX will play an integral role in building the green fuel industry ecosystem. In partnership with Veolia and SIPG, we will advance the systematic development of green methanol supply chains and distribution networks, accelerating the maritime and port industries’ transition toward sustainable, green, and low-carbon operations.”
Ms. Estelle Brachlianoff, CEO of Veolia, added:
“Veolia is pleased to support the Port of Shanghai with our advanced technologies and know-how. This cooperation aligns perfectly with our GreenUp strategic program, focused on the development of local energy resources and cutting-edge environmental solutions. Together, we aim to make Shanghai a global model for sustainable maritime energy.”
Mr. Yang Zhiyong, Vice President of SIPG, highlighted:
“As a leading force in port infrastructure, SIPG sees this partnership as a pivotal opportunity. Through our collaboration with Veolia and VENEX, we will establish a full-spectrum green fuel supply chain that redefines Shanghai Port as a flagship green fuel hub and lays a solid foundation for maritime decarbonisation.”
Mr. Gu Jinshan, President of the China Ports and Harbours Association, praised the initiative:
“Promoting clean fuels like green methanol is essential for achieving the ‘dual carbon’ targets in the port and shipping sectors. This cooperation integrates global environmental innovation with local infrastructure strengths and offers a replicable model for low-carbon transformation, not only in China but worldwide.”
Meet the Strategic Partners Behind the Green Fuel Revolution
VENEX Company Limited
Formed on 30 June 2025, VENEX is a joint venture between Towngas and Foran Energy, fully owned indirectly by the two parent companies. It focuses on the investment, development, and operation of green fuel and chemical projects, including green methanol—a clean alternative fuel increasingly adopted by the maritime industry. VENEX is one of the largest green methanol producers in Asia, committed to advancing national carbon neutrality goals and supporting international shipping with compliant, high-quality green fuels.
Veolia
With a global presence across five continents and 215,000 employees, Veolia is a pioneer in ecological transformation. Its core activities span water, waste, and energy management, offering pragmatic and sustainable solutions that support the world’s energy transition. In 2024 alone, Veolia supplied drinking water to 111 million people, produced 42 million MWh of energy, and treated 65 million tonnes of waste. Veolia’s revenue reached €44.7 billion in 2024.
Veolia in China
Veolia has been active in China since the early 1990s, delivering integrated environmental services to cities and industries. With over 8,000 employees across the country, it plays a vital role in supporting China’s low-carbon transition. In 2024, Veolia’s operations in China helped avoid over 500,000 tons of carbon emissions.
Shanghai International Port Group (SIPG) & SIPG Energy
Founded in 1988, SIPG is the principal operator of public terminals at the Port of Shanghai, one of the largest and busiest seaports in the world. Listed on the Shanghai Stock Exchange since 2006, SIPG offers a complete logistics value chain, including container and bulk terminal services, shipping agency, and land transportation.
SIPG Energy (Shanghai) Co., Ltd., established in November 2023, is the Group’s integrated energy management arm. It operates the world’s leading bunkering fleet, including the LNG vessel Hai Gang Wei Lai and the world’s largest green methanol bunkering vessel, Hai Gang Zhi Yuan, providing ship-to-ship bunkering services to international fleets.
A Blueprint for a Greener Maritime Future
This trilateral partnership reflects a growing urgency within the maritime industry to accelerate clean fuel adoption and reduce greenhouse gas emissions. As the world moves toward net-zero goals, collaborative ventures like this offer a compelling blueprint for how technology, infrastructure, and environmental stewardship can converge to decarbonise one of the most energy-intensive industries globally.
The alliance not only enhances the green fuel supply assurance of Shanghai Port, but also strengthens China’s position as a global leader in sustainable shipping solutions.
About Towngas
Founded in 1862, Towngas is one of Hong Kong’s most established public utilities and a major clean energy player across China. Its business spans piped gas, renewable energy, water, and waste-to-energy solutions. The company operates over 1,000 projects across 29 provincial regions in China, and is a pioneer in certified green methanol production, hydrogen energy, and sustainable aviation fuel.
Source Towngas Hong Kong