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(2 July 2025) The Hong Kong and China Gas Company Limited (Towngas) announced the establishment of a joint venture company, VENEX Holding Company Limited (VENEX), with Foran Energy Group Company Limited (Foran Energy), with each party holding a 50% stake. Simultaneously, Towngas is transferring its green methanol plant in Ordos, Inner Mongolia — Inner Mongolia ECO Coal Chemical Technology Company Limited — to VENEX, joining forces to expand green methanol production capacity and drive energy transformation.
Towngas possesses extensive experience in green methanol investment and operations, converting agricultural and forestry waste as well as scrap tyres into green methanol through proprietary technology. Since 2022, it has obtained ISCC EU and ISCC PLUS certifications for three consecutive years, making it the first company on the Chinese mainland to achieve both international certifications whilst maintaining large-scale green methanol production capacity.
Towngas and Foran Energy signed a framework cooperation agreement in 2024, agreeing to jointly establish an investment platform to invest in and construct green methanol production bases across the Chinese mainland, including the Inner Mongolia Autonomous Region, the Greater Bay Area, and Hainan Province, with a target annual production capacity of one million tonnes. The transfer of the green methanol plant to VENEX marks a significant step for both parties in achieving increased production capacity. VENEX will fully capitalise on the geographical advantages of the Greater Bay Area as a shipping hub, along with existing production, management, and operational experience, to strengthen and expand the green methanol industry.
The global shipping industry has a strong demand for green methanol. As a leading green fuel producer, Towngas is actively expanding cooperation with various sectors. Previously, Towngas signed a memorandum of understanding with the Transport and Logistics Bureau to support the HKSAR Government’s initiative to develop Hong Kong as a green maritime fuel bunkering and trading centre. Additionally, it has signed memoranda of understanding with multiple local and overseas shipping, trading, and bunkering partners to help develop Hong Kong’s green maritime fuel trading market and consolidate Hong Kong’s position as an international maritime centre.
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Press photo:
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Towngas’s green methanol production plant in Inner Mongolia is the first large-scale green methanol producer on the Chinese mainland to obtain both ISCC EU and ISCC PLUS international certifications.
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The Hong Kong and China Gas Company Limited
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