Maersk (Maersk) and the Spanish Government have signed a General Protocol for Collaboration to explore the opportunities for large-scale green fuel production in Spain. 

Maersk said in a statement that signing the Protocol marks a significant milestone in the collaboration that, if implemented in full, could deliver up to 2 million tonnes of green fuels per year.

The project aims to explore the feasibility on how to cover the full value chain from renewable energy sources to the bunkering of vessels.

"We are living in a climate emergency, and we need to rapidly accelerate the availability of green future fuels. We are very pleased to explore green fuel opportunities with the Spanish Government," said Soren Skou, CEO, A.P. Moller - Maersk, noting that Spain encompasses significant renewable resources and is placed along key shipping routes.

The parties noted that they are reviewing production opportunities in the Andalusia and Galicia regions.

"This project is perfectly aligned with Spain's strategy of reindustrialisation, just transition and the green hydrogen roadmap, advancing in the fulfilment of the common commitment of decarbonisation of the European Union," said Pedro Sánchez, president of the Government of Spain.

Lack of sustainable fuel supply for shipping

The availability of green energy and fuels in sufficient quantities and at cost-competitive price levels remains the main challenge for the decarbonisation of global shipping.

Maersk alone said it needs approximately 6 million tonnes of green methanol per year to reach its 2030 milestone fleet emissions target and even larger amounts by 2040 for its fleet to reach net zero.

"Operating a large fleet of container vessels, we are part of the climate problem, and we have made the choice to take an active part in shaping the solutions to secure a green and just transition, enabling the global shipping industry to deliver on the Paris Agreement and Maersk to achieve its 2040 net-zero target," commented Henriette Hallberg, CEO of Fleet & Strategic Brands, A.P. Moller - Maersk.

The 19 vessels capable of running on green methanol that Maersk will put in operation during 2023-2025 will require approximately 750.000 tonnes of green methanol.

Earlier in 2022, Maersk announced a total of seven strategic partnerships to secure the volumes needed to meet the demands of these initial vessels.