VENEX, a subsidiary of the gas company, signed a strategic cooperation agreement for the supply of green methanol with Veolia and SIPG

The gas company (00003.HK) and Fuan Energy jointly established a joint venture company VENEX, which recently signed a "Green Fuel Supply Strategic Cooperation Agreement" with Veolia China and SIPG Energy (Shanghai) Co., Ltd.

According to the agreement, the three parties will leverage VENEX's expertise in green methanol production and operations, Veolia's expertise in local decarbonization energy solutions and its global decarbonization experience, as well as SIPG's advantages in port energy infrastructure, to jointly develop a comprehensive green methanol supply and distribution network, creating an "end-to-end" green fuel supply ecosystem from production to marine refueling.

Through the collaborative development of the green methanol industry chain, this cooperation will provide sustainable fuel solutions for port and shipping enterprises, gradually reducing the industry's reliance on traditional fossil energy, promoting a deep transformation of the port shipping industry towards low-carbon development, and helping to form a green and low-carbon industrial ecosystem in the transportation sector.

Gu Jinshan, President of the China Port Association, expressed high recognition of this cooperation, stating that promoting the application of clean fuels such as green methanol is a key pathway to achieving the "dual carbon" goals of the port shipping industry. This tripartite cooperation, by integrating global environmental protection resources with local port infrastructure advantages, will significantly enhance Shanghai Port's green fuel supply security capabilities and provide a replicable and scalable practical example for the low-carbon transformation of the port and shipping industry in China and globally