Maersk, Spanish Government to explore large-scale green fuels production

Old chemical barrels. Stack of blue methanol or methyl alcohol drum. Steel chemical tank. Toxic waste. Chemical barrel with toxic warning symbol. Industrial waste in drum. Hazard waste storage.

Maersk and the Spanish Government have signed a General Protocol for Collaboration to explore the opportunities for large-scale green fuels production in Spain.

Signing the protocol marks a significant milestone in the collaboration that, if implemented in full, could deliver up to 2 million tonnes of green fuels per year.

The project aims to explore the feasibility on how to cover the full value chain from renewable energy sources to bunkering of vessels.

The parties are reviewing production opportunities in the Andalusia and Galicia regions.

“We are living in a climate emergency, and we need to rapidly accelerate the availability of green future fuels. We are very pleased to explore green fuel opportunities with the Spanish Government, as the country holds key characteristics to help solve this challenge with its great hydrogen ambitions and aspiring sustainability goals,” said Soren Skou, CEO, A.P. Moller – Maersk.

“At the same time, Spain encompasses significant renewable resources and is placed along key shipping routes.”

READ: Maersk ends Q3 close to $9 billion profit

“This project is perfectly aligned with Spain’s strategy of reindustrialisation, just transition and the green hydrogen roadmap, advancing in the fulfillment of the common commitment of decarbonisation of the European Union,” added Pedro Sánchez, President of the Government of Spain.

“It will also strengthen economic, political and commercial ties with Denmark, partner and a friend in EU.”

The availability of green energy and fuels in sufficient quantities and at cost-competitive price levels remains the main challenge for the decarbonisation of global shipping.

Maersk alone needs approximately 6 million tonnes of green methanol per year to reach its 2030 milestone fleet emissions target and even larger amounts by 2040 for its fleet to reach net zero.

The 19 vessels capable of running on green methanol that Maersk will put in operation during 2023-2025 will require approximately 750,000 tonnes of green methanol.

Maersk will introduce the first in a “groundbreaking” series of eight large ocean-going container vessels capable of being operated on carbon neutral methanol in Q1 2024.

Earlier in 2022, Maersk announced a total of seven strategic partnerships to secure the volumes needed to meet the demands of these initial vessels.

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