Maersk eyes large-scale green methanol production in Spain
Danish Shipping company A.P. Moller - Maersk is looking to produce up to 2 million mt/year of green methanol in Spain to supply its fleet and reduce emissions.
PHOTO: CEO of Maersk Soren Skou, President of Spain Pedro Sánchez and Maersk board member Amparo Moraleda at deal signing (From left). Maersk
Maersk has collaborated with the Spanish Government to explore the value chain from renewable energy sources to bunkering of vessels in the Andalusia and Galicia regions of Spain.
Maersk has 19 vessels capable of running on green methanol that will come into operation between 2023-2025. Approximately 750,000 mt of green methanol will be required to supply these vessels. It has already secured seven strategic partnerships so far this year to secure initial volumes needed for these vessels.
Maersk has been working towards its goal of attaining net zero emissions by 2040 and needs nearly 6 million mt/year of green methanol to attain its 2030 fleet emissions target. Even larger quantities are needed to attain net zero level of emissions by 2040, it says.
The company says wider availability of green fuels at competitive price levels remains the primary hurdle in the path to decarbonize shipping.
Maersk’s chief executive Soren Skou says the project has the potential to ease these hurdles as Spain “holds key characteristics to help solve this challenge with its great hydrogen ambitions and aspiring sustainability goals.”
Spanish President Pedro Sánchez said that the project “is perfectly aligned with Spain's strategy of reindustrialisation” and will advance “the fulfillment of the common commitment of decarbonisation of the European Union.”
By Tuhin Roy
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