Press Release: Mabanaft and HIF Global sign agreement to accelerate e-Methanol adoption in the shipping industry

Energy company Mabanaft and HIF Global have signed a Heads of Agreement (HoA) for the planned offtake of e-methanol, reinforcing their commitment to advancing carbon-reducing fuels for the shipping industry. The initial offtake would be of up to 100 thousand tons of e-methanol produced from renewable electricity and captured CO₂ per year.

The agreement outlines the starting point for negotiations to define the terms of a potential offtake contract. As HIF Global moves forward with the development of its e-Fuels facilities, Mabanaft will further explore demand for different methanol applications jointly with its customers. In 2021, both companies signed a Memorandum of Understanding. This new document seeks to deepen collaboration.

Volker Ebeling, Senior Vice President New Energy, Supply & Infrastructure at Mabanaft reaffirms: “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, stated, “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.”

Further information:

The Mabanaft Group is a leading independent and integrated energy company providing its customers with tailored energy solutions for their transportation, heating, industrial and agricultural needs. The group is active in import, distribution and marketing of petroleum products, natural gas liquids, chemicals and biofuels, and supports its customers’ transition to cleaner fuels by providing alternative long-term solutions.

HIF Global is the world’s leading e-Fuels company, developing large infrastructure projects to recycle captured CO2 and produce synthetic hydrocarbons for existing engines. The name HIF represents the mission of the company: to provide Highly Innovative Fuels that advance global energy sustainability. HIF is producing e-Fuels today at its HIF Haru Oni e-Fuels facility in southern Chile and is developing commercial-scale e-Fuels facilities in United States, Uruguay, Australia, and Chile.

Related links:

www.mabanaft.com

www.hifglobal.com