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National Energy, Methanex TT partner on methanol-fuel feasibility study

 



By Ria Chattram / TT Newsday

PORT SPAIN
Petroleumworld 09 30 2021

National Energy president Dr Vernon Paltoo, left to right, the company's manager of legal and corporate services secretariat Camille Blackman, Methanex president and managing director Colin Bain and manager of commercial and stakeholder relations Leiselle Harripersad at the signing of a memorandum of understanding on Wednesday. Photo courtesy National Energy - Photo courtesy National Energy

National Energy president Dr Vernon Paltoo, left to right, the company's manager of legal and corporate services secretariat Camille Blackman, Methanex president and managing director Colin Bain and manager of commercial and stakeholder relations Leiselle Harripersad at the signing of a memorandum of understanding on Wednesday.

The National Energy Corporation and Methanex Trinidad Ltd have partnered to conduct a feasibility study on the viability of methanol as an alternative fuel for transport.

On Wednesday both sides signed a memorandum of understanding (MOU) which represented a public-private sector partnership, in support of the Government’s commitment to the Paris Agreement to reduce greenhouse gas emissions by 15 per cent by 2030 from a 2013 baseline.

In a media release, National Energy said the study will determine the feasibility of the use of domestically produced methanol as a marine fuel in the region and in TT as a vehicle fuel.

Its president Dr Vernon Paltoo said, “With over 40 years' experience in the development of the energy industry, the company is well-positioned to play an integral role in transitioning TT to a low-carbon future.

“The work arising out of this MOU will surely change the narrative for using alternative fuels locally. As a member of the NGC Group, the execution of this MOU between National Energy and Methanex advances the group’s green agenda for a sustainable future for the people of TT.”

Methanex has been actively supporting the adoption of methanol as an alternative marine and automotive fuel and has offered expertise towards the partnership.

Its president and managing director Colin Bain said, “The MOU is a key step forward for TT. Methanol, with its clean burning characteristics, makes it an attractive pathway compared to conventional transport fuel and a step towards TT’s green agenda targets.

"Methanex and National Energy have a rich history of collaboration, so we are very thrilled to be partnering with National Energy once again for the benefit of the country and by extension the region.”

Methanex, through its subsidiary Waterfront Shipping, operates a fleet of 12 methanol-fuelled ships and by 2023, about 60 per cent of its 30-ship fleet will operate on methanol dual-fuel technology, creating lowest emission profiles.

Methanol as a clean-burning liquid fuel has the immediate ability to meet the International Maritime Organisation regulations (IMO) 2020 air quality emissions regulations that benefit human health, when compared to conventional marine fuels, National Energy said.

As a marine fuel, it can reduce sulphur oxide and particulate matter emissions by more than 95 per cent, nitrogen oxide by up to 80 per cent and CO2 emissions during combustion by up to 15 per cent.

Methanol also offers multiple pathways to decarbonisation to meet future emission compliance, including the IMO’s 2030 and 2050 decarbonisation goals.

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