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Eco-friendly Fuel for a Sustainable Future

Eco-friendly Fuel for a Sustainable Future

The delegation of Metafrax Group presented its view on development prospects of methanol industry at the XVIII International conference "Methanol", which was held on September 14-15 in St. Petersburg. According to the holding representatives, the future of this industry lies in the development of methanol application as a fuel on ships, rail transport and in the heat power industry.

Metafrax Group was represented by Levon Garslyan, Director of Strategy and Investments, Tatyana Artyushkova, Senior Analyst of the Strategy and Development Department, Ivan Mikhailov, Chief Specialist-Expert of Foreign Economic Activities of JSC Metafrax Chemicals, as well as representatives of Metafrax Trading Irina Khasanova, Head of Marketing and Yuri Bystrykh, Head of Commercial Department.

The conference agenda set the discussion of new ways for methanol industry development. Market participants discussed decline consequences in export supplies of Russian methanol oriented to the West, the reorientation of shipments to the Asian direction. However, according to the representatives of the Metafrax Group holding, nowadays, there is an increasing need in development of new markets for methanol sale. For example, as a more eco-friendly alternative to classical fuel for large-tonnage transport and heat power industry.

“The current markets for methanol consumption in Russia and declining export volumes due to sanctions don’t provide 100% utilization of key producers,” noted Levon Garslyan as one of the reasons for such conclusions during his speech. “Today, industrial use of methanol is limited to classical applications, its role as an alternative fuel is underestimated. Metafrax sees great potential for the methanol application as marine, automobile and railway fuels, as well as fuel for energy.”

According to Mr. Garslyan, the implementation of methanol as a fuel, should affect not only methanol producers:

“The development of alternative energy is a long-term story, so it’s necessary to start working on other areas of methanol application right now.”

During the speech, the holding representatives emphasized the readiness of Metafrax Group to act as a moderator and organizer of working groups for methanol promotion as a marine fuel in Russia. The Group of Companies is ready to provide technical support for relevant tests.

“It’s necessary to organize meetings with shipowners and shipbuilders, develop the technology of an experimental prototype of a methanol-powered marine engine, and then build it,” highlighted Tatyana Artyushkova during her speech. “To implement this strategy, the industry needs to develop a list of state support measures for the purchase and construction of methanol-powered vessels, amendments to standard and regulatory documents on marine fuels.”