VENEX Company Limited, Veolia and SIPG Energy (Shanghai) Co have agreed to jointly develop a green methanol bunkering and supply network in Shanghai, China.

The companies will jointly develop a green methanol supply network, building an end-to-end fuel ecosystem covering production to bunkering, Towngas said in a statement on its website on Monday. 

The partnership will combine VENEX’s expertise in green methanol production, Veolia’s global decarbonisation experience, and SIPG’s port infrastructure to support green methanol supply for shipping.

“Veolia is pleased to support the Port of Shanghai with its advanced technologies and proven know-how to become a global leader in the supply of sustainable green fuels and accelerate the decarbonisation of the port and maritime sector,” Estelle Brachlianoff, CEO of Veolia, said.

“SIPG is committed to establishing Shanghai Port as a flagship green fuel hub, providing an essential strategic foundation for the decarbonisation of China’s maritime and port sectors,” Yang Zhiyong, vice president of SIPG, said.

VENEX is a joint venture established by the Hong Kong and China Gas Company Limited (Towngas) and Foran Energy Group Company.