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News / Business/ AG&P expands business to include small-scale bunker vessels and LNG-to-power barges

AG&P expands business to include small-scale bunker vessels and LNG-to-power barges

30 Jan 2020
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Atlantic Gulf and Pacific (AG&P), the global downstream gas and LNG logistics company, on Thursday (30 January) announced its portfolio expansion of proprietary technologies to small-scale bunker vessels and LNG-to-power barges in response to growing global demand for cleaner and cheaper fuel.

In the past year, AG&P and majority-owned GAS Entec have been awarded contracts for key LNG components of, among others (i) Japan’s first LNG bunker vessel, (ii) Asia’s largest bunker vessel that will operate in Singapore, and (iii) multiple LNG carrier (LNGC) conversions to floating storage and regasification units (FSRUs) to be deployed in Africa and to power electricity grids in different markets.

“AG&P’s goal is to bring LNG to new markets. One of the missing links has been the capability to import and distribute LNG in an affordable and smaller volumes to non-traditional and off-grid customers. Our unique technologies bring isolated consumers clean, affordable gas, while giving suppliers access to new markets and revenue streams,” said Chong-Ho Kwak, CEO of Gas Entec during the Global LNG Bunkering Summit held in Amsterdam, Netherlands.

“Our integrated, low CAPEX solutions drive down LNG equipment and transport costs, which not only reduce overall project costs, but has the potential to lower the delivered cost of LNG per MMBTU for the customer,” Mr. Kwak added.

AG&P Vice President for Business Development Nishant Sharma commented: “To meet the needs of project owners and investors, solutions must be scalable to minimize surplus capacity and enable investment to match market growth. To sustain demand creation, producers of LNG must also be able to access smaller and more dispersed categories of consumers, bypassing the major intermediaries.”

Anticipating these market changes, in November 2019 AG&P acquired a minority stake in Norway-based Kanfer Shipping, adding a state-of-the-art, proprietary LNG articulated tug barge (ATB) to its suite of cost-optimized solutions. Kanfer has developed a small-scale approach for breaking LNG bulk cargoes using the patented Detachable Stern Vessel© (DSV) design to create an advanced version of the commonly used ATB.

The shallow-draft vessel can efficiently transport LNG to and from an FSU, FSRU, LNGC or land-based LNG terminals and deliver LNG to drop-points on islands, up rivers, along coasts and to remote areas with limited infrastructure. This provides a cost-effective and flexible alternative to capital-intensive onshore LNG facilities, enabling small, large and inaccessible customers to have reliable and affordable access to natural gas.

In addition, AG&P is building a significant fleet of LNG tankers that deliver LNG from terminals to industrial, power, commercial and LNG/CNG stations, while also providing on-site equipment to its customers.

 

Photo credit: Atlantic Gulf and Pacific
Published: 30 January, 2020

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