In China, large-scale green methanol producer VENEX Company Ltd (VENEX) – a joint venture established by The Hong Kong and China Gas Company Ltd (Towngas) and Foran Energy Group Company Ltd (Foran Energy) – have signed a Strategic Green Fuel Supply Cooperation Agreement with Veolia China, and SIPG Energy (Shanghai) Co., Ltd (SIPG), in active response to the national dual carbon goals and the strategic requirements for green transformation in the port and shipping industry.
The parties will work together to develop comprehensive green methanol supply and distribution networks, jointly building an end-to-end green fuel ecosystem that spans from production to bunkering.
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, VENEX will advance the systematic development of green methanol supply chains and distribution networks, contributing specialised knowledge and capabilities to accelerate the maritime and port industries’ transition toward sustainable, green, and low-carbon operations, commented Peter Wong Wai-yee, Managing Director of Towngas and Chairman of VENEX.
According to the agreement, the three parties will leverage the VENEX specialised green methanol production and operations knowledge, Veolia’s expertise in local decarbonising energy solutions and its worldwide decarbonisation experience, and SIPG Group’s leading advantages in port energy infrastructure to develop comprehensive green methanol supply and distribution networks, creating an end-to-end green fuel supply ecosystem from production to bunkering.
As a leading force in port infrastructure, SIPG will leverage this strategic partnership as a pivotal opportunity to collaborate with Veolia and VENEX in developing a comprehensive green fuel supply ecosystem across the entire value chain. SIPG is committed to establishing Shanghai Port as a flagship green fuel hub, providing an essential strategic foundation for the decarbonisation of China’s maritime and port sectors, said Yang Zhiyong, VP of SIPG.
Veolia is pleased to support the Port of Shanghai with its advanced technologies and proven know-how to become a global leader in the supply of sustainable green fuels and accelerate the decarbonisation of the port and maritime sector. This cooperation is fully in line with the GreenUp strategic program, which includes the development of local energy resources and cutting-edge environmental solutions, said Estelle Brachlianoff, CEO of Veolia Group.
Through the coordinated development of the green methanol chain, the partnership will deliver sustainable fuel solutions to port and shipping companies, progressively reducing the industry’s reliance on fossil fuels and driving a profound low-carbon transformation in the maritime sector, ultimately fostering a green, low-carbon industrial ecosystem in transportation.
Promoting the application of clean fuels such as green methanol is a key pathway to achieving the ‘dual carbon’ goals in the port and shipping industry. This tripartite cooperation, by integrating global environmental resources with the advantages of local port infrastructure, will significantly enhance the green fuel supply guarantee capability of Shanghai Port. It also provides a practical and replicable example for the low-carbon transformation of the port and shipping industry in China and even globally, said Gu Jinshan, President of the China Ports and Harbours Association.
