Boosting the energy transition

The President of the Government of Spain agrees with the CEO of Maersk to advance plans for the production of green fuels for maritime transport in Spain

President's News - 2022.11.3

Moncloa Palace, Madrid

During the meeting, they analysed Spain's role within the global project for the production of green fuels of the world's largest shipping company, after having been chosen as one of the key countries in its decarbonisation plans. The Minister for Transport, Mobility and Urban Agenda, Raquel Sánchez, and the Secretary General for Economic Affairs and G-20, Manuel de la Rocha, accompanied the Chief Executive at the meeting.

To explore in as much depth as possible the opportunities for implementing this plan in Spain, a general protocol of collaboration between the Ministries for Ecological Transition and Demographic Challenge, Transport, Mobility and Urban Agenda, Industry, Trade and Tourism and Maersk was signed at midday today. The shipping company has identified Spain as one of the most attractive locations to produce green fuels, due to its accessibility and the availability of renewable energy and biogenic CO2 sources, its connectivity with key maritime routes, its stable investment climate and alignment with the Government of Spain's green transition, and in particular, with the ambitious Green Hydrogen Strategy and Just Transition.

The project will cover the entire value chain, from renewable energy production to bunkering. In addition, it is the shipping company's intention to create a complete green hydrogen ecosystem, together with universities, local companies and other partners. According to the shipping company's plans, Andalusia and Galicia meet the conditions to host two plants for the production of green fuels. "This project is perfectly aligned with Spain's strategy of reindustrialisation, a fair energy transition and the green hydrogen roadmap, progressing in fulfilling the European Union's common commitment to decarbonisation," said the president.

The Executive has been working for months with the multinational to lay the foundations for this project. "It will also strengthen economic, political and commercial ties with Denmark, as I had the opportunity to discuss during the recent visit of the Prime Minister, Mette Frederiksen", remarked Pedro Sánchez.

Green methanol by 2023-24

Maersk's goal is to produce millions of tonnes of e-methanol to fuel all its ships by 2040, starting with 20 or so large vessels that will start running on green methanol in 2023-2024. In the case of Spain, annual production could reach two million tonnes, with a project that involves an investment, together with national and international private partners, of around €10 billion. In addition, the potential job creation is 85,000 direct and indirect jobs.

Spain is one of the countries most committed to promoting a just energy transition and the fight against the climate emergency, processes that need to be accelerated in the wake of the invasion of Ukraine. The Government of Spain's policies aim to promote energy autonomy, increase competitiveness and green industrialise the economy, and all this making maximum use of the levers provided by the investments and reforms contained in the Recovery Plan, which dedicates more than four out of every ten euros of its funds to the ecological transition.

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