Methanol plant investors drop environmental appeal, cancel big project lease

Shipping company Hafnia and Chinese investors behind a large US-based methanol factory say that the project has been put "on hold", however, the company behind the billion-dollar project has given up on an environmental appeal and terminated its lease. Port director calls the project terminated.

Photo: kilde WEC

Whether the project worth USD 4 billion is dormant or dead as a doornail, is a matter of dispute between the involved parties.

Tanker Hafnia and Chinese investors from NW Innovation Works insist that a planned methanol factory, which could turn out to be one of the largest in the world, is still underway.

Read the whole article

Get 14 days free access.
No credit card required.

Get full access for you and your coworkers.

Start a free company trial today

More from EnergyWatch

Board reshuffle to boost Obton

The Danish solar investor has appointed new board members and now aims to quadruple its photovoltaic business ahead of 2025.

Seadrill secures comprehensive restructuring deal

John Fredriksen's strained drilling company Seadrill has settled a comprehensive restructuring agreement with a majority of its lenders, which among other things reduced the company's debt liabilities by almost USD 5bn.

EU to address stalled Danish nearshore wind project

Developer European Energy has received a positive response from the EU regarding project Omø Syd, which is currently on hold due to considerations over migratory birds. The European Parliament has now requested that the Commission launch an investigation into the matter.

Further reading

Related articles

Trial banner

Latest News

See all jobs