‘The green methanol market is small – but growing,’ Ayca Yalcin, Director Market Development EMEA at Methanex, told delegates at DNV GL’s Alternative Fuels Online Conference.
Yalcin said that the growth in green methanol – which is produced from renewable sources rather than natural gas – is ‘being accelerated by the awareness of climate change’ and she maintained that it could play an important part in shipping’s energy transition.
Methanol has the advantage over some of the competing alternative marine fuels in that, in addition to lowering emissions, it is available globally and is competitive on costs. Furthermore, it is liquid at ambient temperature, so diesel engines can be adapted to run with the fuel with relatively little modification. And by using ‘green methanol’, shipowners will be able to reduce emissions across the full life cycle of the fuel – not just onboard ship.
‘Methanol is simple technology, a proven technology,’ said Yalcin. ‘Methanol is an easy-to-use, cost-effective fuel for the future. It can enable you to be compliant with safe IMO regulations as well as a path forward for 2050 decarbonisation.’