The Hong Kong and China Gas Company Limited (Towngas) on Thursday (14 May) said it plans to build a new green methanol plant in China through its joint venture VENEX. VENEX was jointly established by Towngas and Foran Energy on 30 June 2025, with both companies indirectly holding full ownership of VENEX’s equity. Towngas said the facility will boost its green methanol production capacity to 500,000 metric tonnes (mt) per year in 2028. The plant, to be located in Foshan, Guangdong, is aimed to meet rising global demand and support Hong Kong’s green maritime fuel bunkering development. The first phase of the plant, scheduled to open in 2028, will have an annual capacity of 200,000 tonnes. “Developed by our joint venture VENEX, the Foshan plant will leverage locally abundant sugar cane bagasse and wood processing waste as feedstock via advanced biomass gasification technology.” Towngas said in a social media post. With its existing Inner Mongolia plant, they form a dual-production layout across northern and southern China, providing a stable supply chain to support Hong Kong’s development as a green maritime fuel bunkering hub and decarbonise global shipping.   Photo credit: The Hong Kong and China Gas Published: 15 May, 2026