Termination of Power to Methanol
Press Release
Termination of Power to Methanol Antwerp BV due to economic challenges and high energy costs
17/01/2024 // Press Release
In 2019, the collaborative effort of seven prominent industrial and business partners (Advario, ENGIE, Fluxys, Indaver, INOVYN, ParticipatieMaatschappij Vlaanderen and Port of Antwerp-Bruges) led to the inception of the 'Power to Methanol Antwerp BV' consortium.
Our ambitious project aimed to produce 8000 tonnes of e-methanol, a sustainable alternative to traditional methanol, by combining captured CO2 with hydrogen generated from renewable electricity. This initiative was set to significantly reduce carbon emissions by avoiding at least one ton of CO2 for every ton of e-methanol produced.
Throughout its existence, this project has been supported extensively by various levels of policy in Flanders (Vlaio and STRES), and we express our heartfelt gratitude for this invaluable public support. Substantial strides were made in developing the regulatory and legal framework, marking a significant learning curve for all involved partners in this emerging sector and economy.
Regrettably, despite our concerted efforts, the project's economic viability has come under significant strain. Escalating costs, primarily influenced by the ongoing energy crisis and geopolitical uncertainties, have rendered the production of e-methanol financially unfeasible. The substantial increase in e-methanol production costs no longer aligns with the pricing expectations of the transport sector and major industrial buyers.
Despite intensive commercial endeavors to engage potential e-methanol off takers, these efforts did not yield the desired outcomes to warrant a final investment decision. Notably, the immaturity of the e-methanol market, coupled with pervasive uncertainties, has led to the reluctance of potential buyers to commit to long-term contracts in line with the project's duration.
In light of these challenging market conditions and the uncertainty surrounding their duration, the consortium partners have made the difficult decision to terminate the project and forego the construction of the demo plant. Although this decision is regrettable, we remain committed to exploring future sustainable ventures and fostering collaboration in the pursuit of innovative solutions.
30/06/2021 // Press Release
On the proposal of Hilde Crevits, Flemish Minister of Economy and Innovation, the Flemish Government has decided to support the Power-to-Methanol consortium with €1 million. This will allow the consortium to fully develop an innovative technique to capture and reuse CO2. This support makes the installation of a demo plant possible. Annually, the factory will produce 8,000 tonnes of sustainable methanol and save at least as much carbon emissions. That is the equivalent of 8,000 flights from Paris to New York and back. [...]
Press Release
L'hydrogène sera un maillon important de la transition énergétique. Il offre de nombreuses possibilités pour évoluer vers une société climatiquement neutre. Une de ces possibilités est le remplacement progressif dans les prochaines décennies du gaz naturel par l'hydrogène, qui sera à terme de l'hydrogène vert produit à partir d'énergies renouvelables via un processus d’électrolyse. Cela permettra de réduire progressivement les émissions de CO₂ issues des procédés industriels actuels qui utilisent du gaz naturel. Pour la première fois en Belgique, ENGIE va tester l'utilisation d'hydrogène dans une unité de cogénération sur le site d'INEOS Phenol à Anvers.
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Press Release
The City of Antwerp and the City of Bruges have reached an agreement to merge their respective ports. The two-city agreement marks the start of a unification process that is expected to take a year to finalise. Once completed, the ports will operate under the name ‘Port of Antwerp-Bruges’. As a result of the merger, the ports will be able to strengthen their position within the global supply chain and continue their course towards sustainable growth. Furthermore, the unified port will be more resilient to the challenges of the future and will take a lead in the transition towards a low-carbon economy. The ambition is for Port of Antwerp-Bruges to become the world's first port to reconcile economy, people and climate.
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18 February 2021 // Press Release
Waterstof zal een belangrijke schakel in de energietransitie zijn en biedt tal van mogelijkheden om te evolueren naar een klimaatneutrale samenleving. Een mogelijke evolutie in de komende decennia is de graduele vervanging van aardgas door waterstof, op termijn groene waterstof opgewekt door hernieuwbare energie via elektrolyse. Hierdoor kan de CO₂-uitstoot van huidige processen, op basis van aardgas, geleidelijk aan verminderd worden. Voor het eerst in België wil ENGIE het gebruik van waterstof testen in een warmtekrachtkoppeling op de site van INEOS Phenol in Antwerpen.
12 February 2021 // Press Release
Port of Antwerp houses the largest wind farm on the Belgian mainland. Four new wind turbines are to be built on the right bank, and an existing one will be upgraded. Six others will be installed on the left bank. This is how the milestone of 200 MW wind production will be reached this year.
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12 February 2021 // Press Release
Local renewable energy production is not enough to meet climate targets. To do this, Belgium must import solar or wind energy from countries with plenty of wind and sun. The hydrogen import coalition is studying a means of successfully importing energy using molecules such as hydrogen.
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7 May 2020 // Press Release
Consortium of 7 players established to build 'power-to-methanol' demonstration plant.
This week, the port of Antwerp is taking another important step forward in the transition to alternative energy sources and a sustainable, low-carbon circular port. ENGIE, Fluxys, Indaver, INOVYN, Oiltanking, Port of Antwerp and the PMV – investment company of the Flemish Government - have established a consortium for the sustainable production of methanol, an essential raw material used by industry in the Port. Construction of a demonstration plant at the INOVYN site in Antwerp is scheduled to start by 2022, with the aim of producing 8000 tonnes of sustainable methanol annually, thus avoiding at least an equivalent volume of CO2 emissions [...]
22 March 2019 // Press Release
Pilot project aims for 4,000 to 8,000 tonnes of sustainable methanol per year.
Port of Antwerp is starting the year with an ambitious new project. By bringing various players in the port area together for sustainable production of methanol – an important raw material in the port – it is taking the next step in the transition to alternative energy sources and a carbon-neutral port. Innovation will be key to the success and economic feasibility of this project, by combining different activities already present within the port platform such as electricity generation, the fuel industry and the chemical industry. The project is complex and challenging, but will be a "first" for Belgium. [...]
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