Towngas signs MOUs to boost Hong Kong’s green maritime fuel hub ambitions, expanding green methanol production and global shipping partnerships.
The Hong Kong and China Gas Company Limited (Towngas) has reinforced its commitment to green energy by signing key memoranda of understanding (MOUs) at the Mainland-Hong Kong Green Energy Matchmaking Event, held at the Central Government Offices. Organized by the Commercial Office of the Economic Affairs Department of the Liaison Office of the Central People's Government in the Hong Kong SAR, the event highlighted strategic partnerships aimed at advancing Hong Kong as a regional hub for green maritime fuel.
Towngas signed MOUs with the Transport and Logistics Bureau (TLB) and Pacific Basin Shipping Limited (Pacific Basin), supporting the Hong Kong SAR Government’s initiative to establish the city as a major centre for green marine fuel bunkering and trade. Central to this initiative is green methanol, a low-carbon fuel alternative for the shipping sector that aligns with international decarbonization regulations.
Towngas’s green methanol is derived from scrap tyres and biomass waste, and is produced at its facility in Inner Mongolia. The product has earned major global certifications, including ISCC EU, ISCC PLUS, and ISO6583. Notably, Towngas is the first Chinese company to attain both ISCC EU and ISCC PLUS certifications for large-scale green methanol production.
The MOU with the TLB outlines Towngas’s role in supplying marine-grade green methanol that meets international standards, with plans to support delivery, bunkering, trading, and export operations from Hong Kong. The TLB will integrate Towngas into its green marine fuel business cooperation platform, helping connect the company with stakeholders such as liner companies, bunkering operators, and institutional buyers. This effort supports the city’s broader goals of carbon neutrality and international maritime prominence.
Towngas also entered into an MOU with Pacific Basin, a local shipping company, to provide green methanol fuel for its fleet, helping the company comply with emissions reduction targets set by the EU and the International Maritime Organization (IMO). Additionally, Towngas previously signed a similar agreement with Chimbusco in November to establish a full-scale green methanol supply chain in Hong Kong.
Peter Wong Wai-yee, Managing Director of Towngas, emphasized the company’s longstanding dedication to sustainable marine fuel solutions and its role in positioning Hong Kong as an international green fuel bunkering centre. Martin Fruergaard, CEO of Pacific Basin, praised Towngas as an ideal partner with reliable production capacity and deep industry insight.
Towngas’s Inner Mongolia facility recently completed the largest green methanol bunkering operation in Asia at Shanghai Port. The company aims to boost annual capacity from 100,000 tonnes to 150,000 tonnes by year-end and, together with Foran Energy, is planning to expand production to one million tonnes annually by 2028, with the Foshan plant contributing 200,000 tonnes in its first phase.
