SunGas Renewables has established Beaver Lake Renewable Energy (BLRE), a subsidiary tasked with constructing a green methanol production facility in Louisiana to cater to Maersk’s demand for fuel in their methanol-powered containerships. Maersk signed a Letter of Intent (LOI) with SunGas Renewables last December, marking their ninth partnership aimed at boosting global green methanol production.
The agreement mentions about the production of green methanol from various facilities to be developed by SunGas, a spin-out of GTI Energy, in the United States. The new facility is expected to produce around 4,00,000 tons of green methanol annually for marine fuel, utilizing wood fiber sourced from local, sustainably managed forests.
As reported by Bunkerspot, an important aspect of the project is its negative carbon intensity, achieved through the sequestration of nearly a million tons of carbon dioxide per year. Denbury Carbon Solutions will be executing this aspect of the project. BLRE plans to invest approximately
$2 billion in constructing the facility at the former international paper site in Rapides Parish. Construction is slated to begin in late 2024, with commercial operations commencing in 2027.
Emma Mazhari, Head of Energy Markets at Maersk, highlighted that the collaboration will provide valuable services to customers and aligns with their goal of achieving net-zero greenhouse emissions by 2040. Robert Rigdon, CEO of SunGas Renewables, emphasized the project’s use of biomass from sustainable forestry and carbon capture to produce green marine shipping fuel while simultaneously reducing carbon emissions.
