Energy companies Mabanaft and HIF Global have signed an agreement for the planned purchase of e-methanol, reaffirming their commitment to promoting carbon-reduced fuels for the shipping industry. The initial purchase would be up to 100,000 tonnes of e-methanol per year, which is produced from renewable electricity and captured CO₂.
The agreement is the starting point for negotiations to determine the terms of a potential offtake agreement. As HIF Global advances the development of its e-fuels plants, Mabanaft will continue to explore the demand for various methanol applications together with its customers. In 2021, both companies signed a letter of intent. This new document serves to deepen cooperation.
Volker Ebeling, SVP New Energy, Supply & Infrastructure at Mabanaft, says: ‘We strongly believe in the potential of e-methanol as one of the keys to the energy transition and are proud to deepen our partnership with HIF Global. This agreement is another step forward in providing our shipping customers with a viable, alternative fuel. In parallel, we are now in the process of making methanol storage available at our Hamburg tank farm and possibly at other global locations. Our joint efforts are helping to bridge the gap to wider adoption of methanol in the maritime sector.’
Diego Fettweis, CCO of HIF Global, says: ‘Today we are taking another step towards the e-fuel industry by joining forces to tap into a key market: shipping. Drop-in fuels can make an important contribution to energy security while leveraging existing infrastructure.’
