May 21, 2024
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OIL & GAS

Singapore Set to Supply Over 1 Million Metric Tons of Low-Carbon Methanol Annually by 2030

Singapore is on track to supply more than 1 million metric tons of low-carbon methanol annually by 2030 to meet the increasing demand for alternative bunker fuel, announced a Singapore minister on Tuesday.

Amy Khor, a senior minister of state, revealed that Singapore’s Maritime and Port Authority (MPA) initiated a call for proposals from companies to supply methanol as a marine bunker fuel at Singapore starting from 2025.

“On aggregate, the submissions have the potential to supply over one million tonnes per annum of low-carbon methanol by 2030,” Khor stated during the Singapore Maritime Week conference.

These submissions demonstrate a significant readiness within the industry to meet the expected growth in demand for methanol bunkering in the coming years, Khor added.

The MPA will disclose more details on these submissions on Wednesday, contributing to the development of a regulatory framework for methanol bunkering.

According to Khor, national standards for supplying methanol as a marine fuel in Singapore are anticipated to be issued by 2025. This move aligns with the growing interest in methanol bunkering globally as the shipping industry seeks cleaner fuels to reduce carbon emissions.

According to Reuters, major shipowners and ports worldwide have intensified their efforts in methanol bunkering-related projects as part of their commitment to carbon emission targets.

Singapore, renowned as the world’s largest bunkering hub, conducted its maiden bio-methanol refuelling operation for a Maersk vessel in July last year, marking a significant milestone in the adoption of alternative marine fuels.

Methanol is a light, volatile, colorless and flammable fuel produced industrially by hydrogenation of carbon monoxide.

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