Germany-headed global marine fuel trading company ElbOil GmbH has announced that it has signed a Memorandum of Understanding (MoU) in China with Shandong Shunli Hydrogen Energy Technology Co. Ltd, a subsidiary of Henan Shuncheng Group, to support the future production and distribution of green methanol, and Shanghai Wenji Biotechnology Co. Ltd, which is responsible for domestic trade procedures.
Starting early 2027, the plan is expected to deliver up to 1 million tonnes of renewable methanol per annum, a significant step toward decarbonizing the global shipping industry.
The project builds on “Emissions-to-Liquids” (EtL) technology from Icelandic company Carbon Recycling International (CRI) that converts carbon dioxide (CO2) into low-carbon methanol.
According to ElbOil, “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. We’re also planning a site visit in early 2026, and will continue to support the transition to cleaner marine fuels through strategic partnerships and responsible trading.”
