Orsted abandons flagship e-methanol project
Danish firm takes $220m hit as it halts Europe’s largest project in setback for transition to green shipping fuels
Danish renewable energy company Orsted has halted construction of Europe’s largest synthetic methanol production project, citing the slower-than-expected development of Europe’s green fuels markets. The FlagshipONE project, based at Ornskoldsvik in northern Sweden, had been scheduled to start up in 2025, with initial output of 55,000t/yr of e-methanol produced from electrolytic hydrogen and biogenic CO₂. Orsted’s decision to abandon the project more than a year into its construction has resulted in it booking a DKK1.5bn ($220m) impairment loss. “The liquid e-fuel market in Europe is developing slower than expected, and we have taken the strategic decision to de-prioritise our efforts within

Also in this section
11 February 2025
Multiple production routes and regional policy differences hamper nascent sector’s ability to attract investment
10 February 2025
Plans include a £2.7b export pipeline, but country faces stiff competition from other European suppliers
7 February 2025
Norwegian energy company slashes spending on low-carbon sectors as transition decelerates
6 February 2025
US green hydrogen producer Plug Power says its new spot price programme allows buyers to purchase on-demand and without the limitations of long-term agreements