International energy company Global Energy Group (GEG) has partnered with Swiss-based integrated energy company Proman to develop a renewable power to methanol plant making use of local sources of captured carbon dioxide (CO2).
The agreement is set to cover the entire process from development to shipping, afforded by the fact that GEG is also the owner of the Nigg Oil Terminal and Proman is the second largest methanol producer in the world.
Following completion of ongoing financial technical feasibility studies, as well as development and financing, Proman will become the owner, operator and off taker of the green methanol production facility, known as the Cromarty Clean Fuels Project.
To increase local productivity, attract investment and stimulate new partnerships, GEG intends to establish an industrial low carbon cluster at the Port of Nigg. This will in turn help the Scottish and UK governments achieve their climate change targets.
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