Trinidad and Tobago has potential to be methanol bunkering hub

PROMAN, one of the world’s largest methanol producers said there is potential for Trinidad and Tobago to be a methanol bunkering hub.

Methanol is widely available at over 120 ports globally, including Point Lisas. It said the local port is being used regularly to refuel ships having supplied 12,500 (MT) metric tonnes of its locally-made methanol so far for 2024 with 2,100 MT in August alone.

Citing data from DNV, a classification society and recognised advisor for the maritime industry, Proman said 300 methanol-fuelled vessels are expected on the water by 2027 (not including bunker barges or retrofits) and over 70 have been ordered so far in 2024 alone.

Apart from its potential to bring Trinidad into the spotlight, Proman said when used as a maritime fuel, methanol can see reductions in greenhouse gases spewed into the environment.

To further highlight this point, Proman said the vessel departed Singapore in May, and stopped in Indonesia, Brazil and the US before arriving in Trinidad. But using methanol, carbon dioxide emissions were 31 per cent less than what would have been created for the voyage had it used traditional very low sulpher fuel oil.

The 49,400 dead weight tonnes Stena Prosperous is one of six methanol-fuelled tankers commissioned by Proman and Stena Bulk in 2019 and delivered between 2022 and January, 2024. It has 18 cargo tanks and consumes 40 to 60 MT per day.

Proman is one of the world’s largest methanol producers. It has the capacity to produce 4 million MT of methanol annually. Of its 17 petrochemical plants globally, 14 are located in Trinidad. It employs over 2,000 employees with the majority (at least 1,100) in Trinidad.

The company said it has contributed US$11 billion to Trinidad and Tobago’s economy, US$8.4 million in corporate social responsibility investments in communities between 2014 and 2023 and US$5.1 billion in capital investments.