Singapore’s Global Energy Trading, part of Global Energy Group, and The Hong Kong and China Gas Company (Towngas) have signed a memorandum of understanding (MOU) to develop green methanol supply solutions for the shipping industry across Asia.
Towngas has a methanol production plant in Ordos, Inner Mongolia, employing proprietary technology to convert biomass and municipal waste into green methanol.
Meanwhile, Global Energy, which delivered over 4.7m tonnes of bunkers in 2024, is the first company in Singapore to own and operate dedicated bunkering tankers for methanol and has already conducted several operations in the region.
“This collaboration is synergy in motion; together we are creating a one-stop bunkering solution to ensure green methanol is more accessible to the maritime industry, said Loh Hong-leong, managing director of Global Energy, adding: “Beyond supply, we could offer advisory on compliance and in managing the benefits of using green methanol.”
Towngas has outlined expansion plans to establish additional production bases across China, including in Inner Mongolia, the Greater Bay Area, and Hainan, with the goal of achieving an annual production capacity of 1m tonnes of green fuel and chemical supplies.
“By combining Towngas’s strengths in green methanol production with Global Energy’s supply chain management and market operation expertise, we are creating a robust platform to accelerate the shipping industry’s decarbonisation journey,” added Sham Man-fai, chief operating officer of green fuels and chemicals at Towngas.
