ABEL Energy is seeking to accelerate the possible building of a methanol manufacturing facility at the Cleveland Bay Industrial Park in the Townsville State Development Area by collaborating with the Port of Townsville.
Both countries formalised their cooperation on establishing a Green and Digital Shipping Corridor by signing a Memorandum of Understanding (MoU) on 5 March 2024.
ABEL Energy is seeking to export green methanol through the Port of Townsville and provide green methanol marine bunkering facilities on Port land. This would also include supporting infrastructure such as storage tanks, loading and unloading facilities, and pipelines.
ABEL Energy’s current flagship project is Bell Bay in Tasmania. A MoU has been signed between Port of Melbourne, Maersk, ANL, Svitzer, Stolthaven Terminals, HAMR Energy and ABEL Energy to explore the commercial feasibility of establishing a green methanol storage and bunkering hub at the Port of Melbourne. They are now looking to enter a similar arrangement with the Port of Townsville.
The Townsville project would seek to replicate the company’s flagship project, Bell Bay Powerfuels in Tasmania. “ABEL Energy’s green methanol production process uses 100 per cent renewable power, fresh water and biomass residues.
..ABEL Energy CEO Michael van Baarle said.
Abel Energy is finalising a feasibility assessment for the Townsville Project. A final investment decision would be by the end of 2027, with operations commencing in 2029.
Abel Energy and the Port of Townsville have signed a Memorandum of Understand (MOU) with the following purpose:
- undertaking investigations required to assess the feasibility of the Project.
- (assessing and analysing the green methanol market including customer segments (identification of bunkering customers, market leading customers with alternate fuel strategies, high level vessel fuel conversion studies and suitability assessment to local vessel fleet).
- defining the optimal land size, tank storage and bunkering options, enabling infrastructure requirements, transport options, and safety considerations for the Project.
- undertaking agreed Work Packages to evaluate the feasibility of the Project.
- cooperatively working together with the intent to reach a Heads of Agreement to further advance the Project.
