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(13 October 2025) In active response to the national dual carbon goals and the strategic requirements for green transformation in the port and shipping industry, VENEX Company Limited (VENEX) – a joint venture established by The Hong Kong and China Gas Company Limited (Towngas) and Foran Energy Group Company Limited (Foran Energy) – recently signed a Strategic Green Fuel Supply Cooperation Agreement with Veolia and SIPG Energy (Shanghai) Co., Ltd. The parties will work together to develop comprehensive green methanol supply and distribution networks, jointly building an end-to-end green fuel ecosystem that spans from production to bunkering.

According to the agreement, the three parties will leverage VENEX’s specialised green methanol production and operations knowledge, Veolia’s expertise in local decarbonising energy solutions and its worldwide decarbonisation experience, and SIPG Group’s leading advantages in port energy infrastructure to develop comprehensive green methanol supply and distribution networks, creating an end-to-end green fuel supply ecosystem from production to bunkering.

Through the coordinated development of the green methanol chain, the partnership will deliver sustainable fuel solutions to port and shipping companies, progressively reducing the industry’s reliance on fossil fuels and driving a profound low-carbon transformation in the maritime sector, ultimately fostering a green, low-carbon industrial ecosystem in transportation.

Mr Peter Wong Wai-yee, Managing Director of Towngas and Chairman of VENEX commented: “Leveraging our extensive expertise and operational excellence in green methanol production and management, VENEX will play an integral role in building the green fuel industry ecosystem. In partnership with Veolia and SIPG, VENEX will advance the systematic development of green methanol supply chains and distribution networks, contributing specialised knowledge and capabilities to accelerate the maritime and port industries’ transition toward sustainable, green and low-carbon operations.”

Ms Estelle Brachlianoff, CEO of Veolia, stated: “Veolia is pleased to support the Port of Shanghai with its advanced technologies and proven know-how to become a global leader in the supply of sustainable green fuels and accelerate the decarbonisation of the port and maritime sector. This cooperation is fully in line with the GreenUp strategic program, which includes the development of local energy resources and cutting-edge environmental solutions.”

Mr Yang Zhiyong, Vice President of SIPG commented: “As a leading force in port infrastructure, SIPG will leverage this strategic partnership as a pivotal opportunity to collaborate with Veolia and VENEX in developing a comprehensive green fuel supply ecosystem across the entire value chain. SIPG is committed to establishing Shanghai Port as a flagship green fuel hub, providing an essential strategic foundation for the decarbonisation of China’s maritime and port sectors.”

Mr Gu Jinshan, President of the China Ports and Harbours Association, expressed high recognition for this cooperation. He stated: “Promoting the application of clean fuels such as green methanol is a key pathway to achieving the ‘dual carbon’ goals in the port and shipping industry. This tripartite cooperation, by integrating global environmental resources with the advantages of local port infrastructure, will significantly enhance the green fuel supply guarantee capability of Shanghai Port. It also provides a practical and replicable example for the low-carbon transformation of the port and shipping industry in China and even globally.”

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About VENEX Company Limited
VENEX Company Limited (VENEX) was jointly established by The Hong Kong and China Gas Company Limited (Towngas) and Foran Energy Group Company Limited (Foran Energy) on 30 June 2025, with both companies indirectly holding full ownership of VENEX’s equity. VENEX engages in the investment, development, and operation of green fuel and chemical projects, including research and development, production, sales, and export activities. VENEX is a large-scale green methanol producer in Asia, dedicated to supporting national new energy initiatives and advancing carbon neutrality objectives. The company delivers high-quality, compliant green fuel and chemical solutions tailored for the maritime and chemical industries.

About Veolia
Veolia group aims to become the benchmark company for ecological transformation. Present on five continents with 215,000 employees, the Group designs and deploys useful, practical solutions for the management of water, waste and energy that are contributing to a radical turnaround of the current situation. Through its three complementary activities, Veolia helps to develop access to resources, to preserve available resources and to renew them. In 2024, the Veolia group provided 111 million inhabitants with drinking water and 98 million with sanitation, produced 42 million megawatt hours of energy and treated 65 million tonnes of waste. Veolia Environnement (Paris Euronext: VIE) achieved consolidated revenue of 44.7 billion euros in 2024.

About Veolia China
Veolia group aims to become the benchmark company for ecological transformation. Since its entry into the Chinese market in the early 1990s, Veolia has consistently provided a comprehensive range of efficient environmental services, including Water, Waste, and Energy Management, for urban and industrial sectors. The company has actively collaborated with various stakeholders to support China’s green and low-carbon transformation. With over 8,000 employees in China, Veolia delivers professional environmental services all around China. In 2024, Veolia avoided around 500,000 tons of carbon emissions in China. 

About Shanghai International Port Group (SIPG)
Shanghai International Port (Group) Co., Ltd. (SIPG), established in 1988, is the primary operator of public terminals at the Port of Shanghai and one of the largest port enterprises in mainland China. On October 26, 2006, it became the first fully listed port joint-stock enterprise in China upon its listing on the Shanghai Stock Exchange. SIPG’s core operations are divided into four segments: container terminal services, bulk and general cargo terminal services, port logistics, and port services, covering a complete port logistics industrial chain that includes cargo handling, storage and stacking, shipping agency, and land transport agency. Headquartered in Shanghai, the company is committed to building a world-leading smart and green port to support China’s foreign trade and the development of international shipping hubs. SIPG Energy (Shanghai) Co., Ltd., a wholly-owned subsidiary established on November 7, 2023, serves as SIPG’s integrated energy management platform and the investment and operating entity for the Shanghai Port Green Energy Center. It operates the world-leading LNG bunkering vessel ‘Hai Gang Wei Lai’ and the world’s largest green methanol bunkering vessel ‘Hai Gang Zhi Yuan,’ providing ship-to-ship LNG and methanol bunkering services for international vessels.

Press photo:

Photo 1:

Under the witness of Mr Peter Wong Wai-yee (right, back row), Managing Director of Towngas and Chairman of VENEX; Ms Estelle Brachlianoff (left, back row), CEO of Veolia; and Mr Gu Jinshan (centre, back row), President of the China Ports and Harbours Association, the Strategic Green Fuel Supply Cooperation Agreement was signed by Mr Sham Man-fai (right, front row), Chief Operating Officer – Green Fuels and Chemicals of Towngas and CEO of VENEX; Ms Julia Gu (left, front row), CEO of Veolia China; and Mr Luo Wenbin (centre, front row), Chairman and General Manager of SIPG Energy (Shanghai) Co., Ltd.

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The Hong Kong and China Gas Company Limited