Maersk, Goldwind pen green methanol offtake agreement

A.P. Moller – Maersk (Maersk) and Chinese developer Goldwind have

shipping industry.

The agreement reportedly reduces the risks associated with Maersk’s

net-zero journey and supports aspirations for a competitive green methanol

market by 2030.

The record-breaking quantities may propel more than half of Maersk’s

methanol-enabled capacity that is presently on order.

Wu Gang, Chairman, Goldwind, said: “Goldwind respects Maersk as a pioneer

in the field of maritime green fuel and we are excited to jointly promote the

green transition with Maersk.

“With this project, Goldwind will continue to explore the innovative

application of new technologies, pursue the organic combination of green

electricity and green fuel production, and optimise the production process of

green methanol.”

The amounts include a combination of green bio-methanol and e-methanol, all

of which are generated using wind energy at a new production plant in Hinggan

League, Northeast China, approximately 1,000 kilometres northeast of

Beijing.

Production is set to start in 2026. Following the execution of this offtake

agreement, Goldwind anticipates making a final investment decision for the plant

before the end of the year.

Rabab Raafat Boulos, Chief Infrastructure Officer at Maersk, stated: “We

are encouraged by the agreement because its scale and price confirm our view

that green methanol currently is the most viable low-emission solution for ocean

shipping that can make a significant impact in this decade.

“The deal is a testament to the momentum and vast efforts we see among

ambitious developers driving projects forward across geographies, however, we

still have a long way to go in ensuring a global green fuels market that can

enable the decarbonisation of global shipping.”

Maersk is expected to take delivery of its first large ocean-going

methanol-enabled vessel (16,000 TEU) in the first quarter of 2024.

In September, Maersk and Equinor inked an agreement to provide green

methanol supply for Maersk’s new methanol-enabled feeder vessel during its

initial months of operation.