Maersk signs green methanol deal with Goldwind

The agreement between Maersk and Chinese developer Goldwind, a global leader in clean energy, marks the first large scale green methanol offtake agreement for the global shipping industry. The deal significantly de-risks the initial stages of Maersk’s net-zero journey and supports expectations for a competitive green methanol market towards 2030, says a release from Maersk.

The record-high volumes can annually propel more than half the methanol-enabled capacity Maersk currently has on order. Maersk aims to reach net-zero greenhouse gas emissions by 2040 across its business.

“This deal is a milestone for Maersk as it enables us to significantly reduce our emissions footprint in this decade and stay aligned with the 1.5-degree Celsius trajectory as set out in the Paris Agreement, ensuring continued supply of low carbon shipping services to our customers in the second half of this decade”, says Rabab Raafat Boulos, Chief Infrastructure Officer, Maersk.

The volumes combine a mix of green bio-methanol and e-methanol, all to be produced utilising wind energy at a new production facility in Hinggan League, Northeast China, around 1000 km northeast of Beijing, the release added.