SINGAPORE – Canada’s Nauticol Energy has teamed up with Fortrec to create a new Singapore based company that will develop, construct and operate a multi-billion-dollar World Scale, Net Zero, Blue Methanol facility in Alberta, Canada and distribute Blue Methanol worth over $1 billion annually through its Singapore trading platform.
Leveraging the global trading and capital markets capacity of Singapore, the support from Enterprise Singapore and the country’s objective to be a world leader in the clean energy transformation, the companies have incorporated Nauticol Singapore Pte. Ltd in Singapore to accelerate the trade and capitalization activity.
Utilizing abundant and competitively priced Western Canadian natural gas, combined with carbon capture and sequestration, the project will produce 3 million tonnes annually of Net Zero, Blue Methanol supplying the increasing demand for low-carbon clean energy in Asia and other global markets.
Net Zero, Blue Methanol in energy applications is an essential part of global commercial, societal and government objectives to reduce global CO2 emissions. As global transportation leaders are aligning key assets and infrastructure for low carbon methanol, Nauticol and Fortrec will be positioned to meet this demand.
Project development activities are well advanced. A development site has been secured and key regulatory, environmental and water permitting has been obtained. Critical technology, construction and commercial partners have been selected for all essential project elements.
In Canada, the project has received unprecedented support from local Indigenous communities as well as strong support from Municipal, Provincial, Federal governments. Approximately $25 million of development activity has been completed to date and the companies are commencing further capitalization to advance the project towards a commercial operation date of 2025.
Fortrec, a Singapore grown business, has been operating for over 21 years and has built an unparalleled footprint in Asia, Europe and in the Middle East, partnering with the largest petroleum and petrochemical companies around the globe. With substantial access to petroleum and petrochemical industry leaders in
Korea, Japan, China, India, SE Asia as well as the Middle East, Fortrec has built a reputation of creating value not only for its own activities but also for our partners along every facet of the petrochemicals value chain – finance, raw material sourcing, advanced logistics, marketing and engineering. (www.fortrec.com)
Nauticol intends to be a global leader in developing world-scale, transformative and sustainable projects. Nauticol is focused on intelligent engineering and efficient execution. The company continuously challenges itself to find smarter ways to use natural resources, drive integration and eliminate waste to reduce its environmental footprint. Sustainable development is at the core of all its decisions. For more information about Nauticol Energy Ltd. (www.nauticolenergy.com)
Nauticol Energy Ltd.
Terri Ellen Sudnik, VP of External Relations
Fortrec Chemicals & Petroleum
Garich Lim Shington, Head of Partners