Mabanaft and HIF Global have signed a Heads of Agreement (HoA) outlining the planned offtake of e-methanol. The deal underscores both companies’ commitment to developing and advancing carbon-reducing fuels for the shipping industry.

The initial offtake will comprise one hundred thousand tons of e-methanol, produced annually using renewable electricity and captured CO2.

This new agreement follows an initial Memorandum of Understanding signed in 2021. It aims to deepen and strengthen the companies’ relationship as both focus on this joint project and their individual initiatives. Mabanaft is exploring the varying methanol application demands of its customers, while HIF Global is developing its e-Fuel production facilities.

Volker Ebeling, Senior Vice President New Energy, Supply & Infrastructure at Mabanaft stated, “We strongly believe in the potential of e-methanol as a key enabler of the energy transition, and we are proud to deepen our partnership with HIF Global. This agreement is a further step forward in providing our shipping customers with a viable, alternative fuel. In parallel we are now in the process of making methanol storage available at our Hamburg tank terminal and possibly further global locations. Our combined efforts help bridging the gap towards a broader adoption of methanol in the maritime sector.”

Diego Fettweis, Chief Commercial Officer of HIF Global, commented “Today we take another step in leading the e-Fuels industry, joining forces to break into a key market: shipping. Drop-in fuels can make a relevant difference ensuring a secure energy supply while leveraging existing infrastructure.”