Launching a New Methanol Industry in BC
Canadian Methanol Corporation (CMC) was established in 2012 and in subsequent years pursued development of a "megamethanol" plant near Chetwynd in the Peace River region of northeastern British Columbia (BC), Canada. Based on an extensive report produced for CMC by Stantec in March 2014, the plan was to use the region's vast natural gas and renewable energy resources to produce 1.8 million tons of reduced-carbon methanol per year for export to China. CMC had an offtake agreement with a state-owned entity in China and the support of First Nations in the Chetwynd area, but was unable to get the project across the finish line for two reasons: shifts in the political landscape in China resulted in the sudden termination of CMC's relationship with the Chinese company; the price of methanol dropped dramatically, compromising the project's economic viability at the time.
Over the last seven years CMC has been seeking new methanol-related opportunities in the region to take advantage of its extraordinary resources and infrastructure. We have now secured an ideal production site in Tumbler Ridge and, with an eye on the rapidly emerging application of methanol as a marine fuel, are planning a new project. Commencement of a pre-feed study by a leading Canadian engineering firm is imminent. This website will elaborate on the project in due course. Stay tuned . . .
Over the last seven years CMC has been seeking new methanol-related opportunities in the region to take advantage of its extraordinary resources and infrastructure. We have now secured an ideal production site in Tumbler Ridge and, with an eye on the rapidly emerging application of methanol as a marine fuel, are planning a new project. Commencement of a pre-feed study by a leading Canadian engineering firm is imminent. This website will elaborate on the project in due course. Stay tuned . . .
Support of First Nations
Canadian Methanol recognizes the vital importance to all British Columbians of strengthening cooperation between industry and First Nations, and considers this a vital objective as we move forward. CMC expects to build on existing relationships and extensive knowledge of Treaty 8 and other First Nations in fostering new relationships based on mutual respect and trust. CMC has signed an MOU with West Moberly First Nations that allows both parties to explore additional opportunities and commercial benefits arising from the prospective production of methanol on WMFN's traditional territory.
Canadian Methanol recognizes the vital importance to all British Columbians of strengthening cooperation between industry and First Nations, and considers this a vital objective as we move forward. CMC expects to build on existing relationships and extensive knowledge of Treaty 8 and other First Nations in fostering new relationships based on mutual respect and trust. CMC has signed an MOU with West Moberly First Nations that allows both parties to explore additional opportunities and commercial benefits arising from the prospective production of methanol on WMFN's traditional territory.
Emergence of Methanol as a Shipping Fuel
Methanol-fueled ships are on the water today and in an effort to decarbonize the shipping industry several of the largest shipping companies in the world, including Maersk and COSCO, have ordered a series of methanol-dual fueled ships. CMC is in discussion with several potential offtakers, including leading shipping companies, about supplying green and/or reduced-carbon bridge methanol. Click here to watch a video on the Maersk container ship orders.
Methanol-fueled ships are on the water today and in an effort to decarbonize the shipping industry several of the largest shipping companies in the world, including Maersk and COSCO, have ordered a series of methanol-dual fueled ships. CMC is in discussion with several potential offtakers, including leading shipping companies, about supplying green and/or reduced-carbon bridge methanol. Click here to watch a video on the Maersk container ship orders.
In October 2022 COSCO announced that it will invest $2.9 billion in methanol dual-fuel ultra-large container ships.