Tanker Owner Hafnia Invests in Washington Methanol Production Facility

Washington State may soon be home to a new methanol plant. File Image / Pixabay

Tanker owner Hafnia has formed a joint venture investing in a methanol production facility in Washington, the company said Monday.

Hafnia and another unnamed company will jointly invest $10 million into Northwest Innovation Works, a company seeking to build a 3.6 million mt/year methanol production and export facility at the Port of Kalama in Southwest Washington.

Hafnia and its partner will also produce and operate duel-fuel carriers capable of running on the methanol produced at the plant, to be tied to 19-year charters to transport a third of the plant's product. The plant will produce methanol using natural gas.

Methanol is one of the possible alternative fuels being proposed as a future fuel for the shipping industry ....

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