Shanghai to build a 100,000-ton green methanol project
Thread Content
On September 5, the signing ceremony for the Shanghai 100,000-ton green methanol project, under the theme of \"Building new green and low-carbon productive forces to support the development of Shanghai as an international shipping hub,\" was held at the Shenneng Energy Center. During the ceremony, SHENENG Group signed a \"Raw Material Procurement Contract for the Green Methanol Production Project in Shanghai\" with the Urban Investment Group; it signed a \"BOO Agreement for the 100,000 tons per year methanol project between SHENENG and HUAYI in the Shanghai Chemical Industry Zone\" with HUAYI Group; and it signed a \"Strategic Cooperation Agreement for the Green Methanol Project\" with the Shanghai Port Group. The signing of this agreement will ensure a stable supply of raw materials and products for green methanol production in Shanghai, promote the business of green methanol refueling as well as its market promotion, and lay a solid foundation for Shanghai to achieve its goal of having competitive local green methanol production capacity by the end of 2025. All the signing parties stated that green methanol serves as an important cornerstone for Shanghai in advancing its energy transition toward greener practices and supporting the development of its international shipping hub. This project is a model of how state-owned enterprises in Shanghai work together to contribute to the city’s overall development. In the future, all stakeholders in this industry will continue to collaborate to support the establishment of Shanghai’s \"five centers,\" to foster new forms of green and low-carbon productivity, and to make greater contributions to Shanghai’s green development and its role as an international shipping hub.
Under the signed agreements, SHENENG Group entered into cooperation agreements with Urban Investment Group, Hua Yi Group, and Shanghai Port Group, covering the procurement of raw materials for green methanol projects, BOO (Build-Own-Operate) agreements, as well as strategic partnerships. Among them, the BOO agreement for the 100,000 tons per year methanol project in the Shanghai Chemical Industry Park, signed with Huayi Group, mentions the \"BOO\" model; this generally means that the responsibilities for construction, ownership, and operation are borne jointly by the contracting parties or by one of them. Since this is a BOO agreement for a methanol project, it is reasonable to infer that Shenneng Group and Huayi Group are likely to be one of the construction parties for this project, or at least play an important role in it.
100,000-ton class? Why is the scale so small? Are it market factors or technical reasons?
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We’re not exactly sure about the specifics, but based on the usual definition of green methanol, it’s likely due to limitations in technical approaches or raw material supply