Maersk, Spanish govt to scout Spain for large-scale green fuels production

Danish shipping company AP Moeller Maersk A/S (CPH:MAERSK-B) said that it has signed a general protocol for collaboration with the Spanish government to explore opportunities for large-scale production of green fuels in Spain.

The collaboration, if implemented in full, could deliver up to 2 million tonnes of green fuels per year.

The project will focus on exploring the feasibility of how to cover the full value chain from renewable energy sources to bunkering of vessels. The parties are reviewing production opportunities in the Spanish regions of Andalusia and Galicia, Maersk said.

“We are very pleased to explore green fuel opportunities with the Spanish Government, as the country holds key characteristics to help solve this challenge with its great hydrogen ambitions and aspiring sustainability goals. At the same time, Spain encompasses significant renewable resources and is placed along key shipping routes,” said Maersk CEO Soren Skou.

Maersk highlighted the global shipping industry’s challenges with securing enough green energy and fuels and at competitive prices. The Danish shipping major alone needs around 6 million tonnes of green methanol per year to reach the 2030 fleet emissions target and much more to arrive to net zero by 2040, the company said.

In 2023-2025, Maersk will put in operation 19 vessels capable of running on green methanol. These vessels will require some 750,000 tonnes of the green fuel, Maersk added.

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