Agreement Overview
Mitsubishi Gas Chemical Company (MGC) has signed a sales and purchase agreement with Transition Industries LLC for the offtake of ultra-low carbon methanol. The agreement will become effective upon the Final Investment Decision of the Pacifico Mexinol Project in Mexico.
Project Details
The Pacifico Mexinol Project, developed by Transition Industries in collaboration with the International Finance Corporation and other partners, aims to produce 2.15 million tons of ultra-low carbon methanol annually. The project is one of the world's largest initiatives in this field, focusing on green and blue methanol production.
Timeline and Offtake
Commercial operations for the project are scheduled to begin in 2029. MGC will offtake approximately 1 million tons of ultra-low carbon methanol per year, making it a key offtaker for the project.
Environmental Impact
By supplying ultra-low carbon methanol, MGC aims to meet the growing demand for environmentally friendly products and promote methanol-based decarbonization in Japan and across Asia. This initiative supports the transition towards a more sustainable society by reducing greenhouse gas emissions.
