Danish energy group Orsted has cancelled its green methanol project, citing a lack of demand.
The Copenhagen-listed green electricity firm had been developing FlagshipOne in Sweden, with plans to produce up to 55,000 tonnes of green methanol a year — enough to power one large container vessel, it said.
However, during its recent second-quarter results, Orsted chief executive and group president Mads Nipper said it had decided to cease its work in the e-fuels market, citing costs and lack of demand.
