Maersk signs landmark green methanol agreement

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Move significantly de-risks its low-emission operations in this decade

The offtake agreement between AP Moller-Maersk and Chinese developer Goldwind, a global leader in clean energy, reaches into the next decade and marks the first large scale green methanol offtake agreement for the global shipping industry.

“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”, noted Rabab Raafat Boulos, Chief Infrastructure Officer, AP Moller-Maersk.

Net-zero gas emissions

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

“Goldwind is committed to collaborating with companies involved in the green methanol industry, with the aim to make green methanol one of the most important and economically feasible clean maritime fuels in the future”, said Wu Gang, Chairman, Goldwind.

AP Moller-Maersk will take delivery of its first large ocean-going methanol-enabled vessel (16,000 TEU) in the first quarter of 2024 and is diligently working on sourcing solutions with a broad range of global partners for the entire vessel series being delivered in 2024-25.

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