ElbOil teams up with Chinese companies to drive green methanol expansion

November 13 ------ ElbOil, a German-based company specializing in the trading, brokering, and hedging of marine fuels, has signed a memorandum of understanding (MoU) with Chinese companies Shandong Shunli Hydrogen Energy Technology, a subsidiary of Henan Shuncheng Group, and Shanghai Wenji Biotechnology, which is responsible for domestic trade procedures, to support the future production and distribution of green methanol.

Starting in early 2027, the initiative is expected to deliver up to 1 million metric tons of renewable methanol per year, contributing to efforts to decarbonize the global shipping industry. ElbOil stated: “This MOU marks more than a commercial agreement: it’s a shared commitment to drive innovation, sustainability, and long-term impact in the maritime energy sector. We’re also planning a site visit in early 2026, and will continue to support the transition to cleaner marine fuels through strategic partnerships and responsible trading.”

As disclosed, the project builds on Iceland-based Carbon Recycling International’s technology, designed to convert CO2 into low-carbon methanol. It is also said to be in line with the kind of initiatives ElbOil supports.

Source: offshore-energy.biz