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LNG Bunkering

CMA CGM welcomes second 7,000 CEU LNG dual-fuel RoRo vessel

‘Equipped with LNG and battery hybrid technology, she sets a new standard in reducing emissions, offering a greener pathway for the booming electric vehicle market, says firm.

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CMA CGM Monaco

French shipping giant CMA CGM on Monday (26 February) welcomed its second in a series of 7,000 CEU RoRo vessels, CMA CGM Monaco, to its fleet. 

“As the second in a series of 7,000 CEU RORO vessels, the CMA CGM Monaco's maiden call at Yantai heralds a significant leap in automotive transport between Asia and Europe,” the firm said in a social media post.

“Equipped with LNG and battery hybrid technology, she sets a new standard in reducing emissions, offering a greener pathway for the booming electric vehicle market.”

 “With 12 decks and capacity for 7,000 vehicles, the CMA CGM Monaco is at the forefront of enhancing China-Europe trade exchanges.”

 A week ago, CMA CGM announced the successful maiden voyage for CMA CGM Indianapolis, the first of four identical RoRo ships, in Northern Europe. 

“Launched just last December, her first stop at Bremerhaven wasn’t just for unloading; it also marked her LNG bunkering, a testament to our commitment to sustainable shipping,” it said in a separate social media post. 

Last week, Nordic liquefied natural gas (LNG) bunker supplier Gasum also said CMA CGM Indianapolis just had its first bunkering in Bremerhaven.

Related: CMA CGM receives first ship in series of 10 LNG-fuelled container ships

 

Photo credit: CMA CGM
Published: 29 February, 2024

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LNG Bunkering

TotalEnergies announces FID for first LNG bunkering hub in the Middle East

LNG production from LNG liquefaction plant in port of Sohar, as part of Marsa project, is expected to start by first quarter 2028 and is primarily intended for LNG bunkering in the Gulf.

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TotalEnergies announces FID for first LNG bunkering hub in the Middle East

Energy company TotalEnergies and Oman National Oil Company on Monday (22 April) announced the Final Investment Decision (FID) for the Marsa LNG plant project.

TotalEnergies had signed a Sale and Purchase Agreement (SPA) with Oman LNG to offtake 0.8 Mtpa of LNG for ten years from 2025, making the company one of the main offtaker of Oman LNG's production.

Finally, TotalEnergies (49%) and OQ Alternative Energy (51%), the national renewable energy champion, have confirmed being at an advanced stage of discussions to jointly develop a portfolio of up to 800 MW, including the 300 MWp solar project that will supply Marsa LNG.

Through their joint company Marsa Liquefied Natural Gas (Marsa), TotalEnergies (80%) and OQ (20%) launch the integrated Marsa LNG project which combines:

  • upstream gas production: 150 Mcf/d of natural gas, coming from the 33.19% interest held by Marsa in the Mabrouk North-East field on onshore Block 10, which will provide the required feedstock for the LNG plant. Block 10 production started in January 2023 and reached plateau in April 2024. The FID allows Marsa LNG to extend its rights in Block 10 until its term in 2050.
  • downstream gas liquefaction: a 1 Mt/y capacity LNG liquefaction plant will be built in the port of Sohar. The LNG production is expected to start by first quarter 2028 and is primarily intended to serve the marine fuel market (LNG bunkering) in the Gulf. LNG quantities not sold as bunker fuel will be off-taken by TotalEnergies (80%) and OQ (20%).
  • renewable power generation: a dedicated 300 MWp PV solar plant will be built to cover 100% of the annual power consumption of the LNG plant, allowing a significant reduction in greenhouse gas emissions.

The Marsa LNG plant will be 100% electrically driven and supplied with solar power, positioning the site as one of the lowest GHG emissions intensity LNG plants ever built worldwide, with a GHG intensity below 3 kg CO2e/boe. (for reference, the average emission intensity of LNG plants is around 35 kg CO2e/boe - this represents a reduction in emissions of more than 90%).

The main Engineering, Procurement and Construction contracts have been awarded to Technip Energies for the LNG plant and to CB&I for the 165,000 m3 LNG tank.

The Marsa LNG project will generate long-term employment opportunities and significant socio-economic benefits for the city of Sohar and the region.

The first LNG bunkering hub in the Middle East

The ambition of the Marsa LNG project is to serve as the first LNG bunkering hub in the Middle East, showcasing an available and competitive alternative marine fuel to reduce the shipping industry's emissions. 

“We are proud to open a new chapter in our history in the Sultanate of Oman with the launch of the Marsa LNG project, together with our partner OQ, demonstrating our long-term commitment to the country. We are especially pleased to deploy the two pillars of our transition strategy, LNG and renewables, and thus support the Sultanate on a new scale in the sustainable development of its energy resources”, said Patrick Pouyanné, Chairman and CEO of TotalEnergies.

“This very innovative project illustrates our pioneer spirit and showcases the relevance of our integrated multi-energy strategy, with the ambition of being a responsible player in the energy transition. By paving the way for the next generation of very low emission LNG plants, Marsa LNG is contributing to making gas a long-term transition energy.”

 

Photo credit: TotalEnergies
Published: 24 April 2024

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Bunker Fuel

Argus Media: USGC LNG-VLSFO discount to steady itself

Premium for US Gulf coast (USGC) very low-sulphur fuel oil to LNG is expected to linger but not widen this spring, maintaining interest in LNG as a bunkering fuel.

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The premium for US Gulf coast (USGC) very low-sulphur fuel oil (VLSFO) to LNG is expected to linger but not widen this spring, maintaining interest in LNG as a bunkering fuel.

24 April 2024

US Gulf coast LNG prices slipped from a premium to a discount to VLSFO in March 2023 and have remained there since. The discount surpassed 200/t VLSFO-equivalent in January (see chart). Both LNG and VLSFO prices are expected to remain under downward pressure due to high inventories, which could keep the current LNG discount steady.

The US winter natural gas withdrawal season ended with 39pc more natural gas in storage compared with the five-year average, according to the US Energy Information Administration (EIA). Henry Hub natural gas monthly average prices dropped below $2/mmBtu in February, for the first time since September 2020, Argus data showed. The EIA expects the US will produce less natural gas on average in the second and third quarter of 2024 compared with the first quarter of 2024. Despite lower production, the US will have the most natural gas in storage on record when the winter withdrawal season begins in November, says the EIA. As a result, the agency forecasts the Henry Hub spot price to average less than $2/mmBtu in the second quarter before "increasing slightly" in the third quarter. EIA's forecast for all of 2024 averages about $2.20/mmBtu.

US Gulf coast VLSFO is facing downward price pressure as demand falls and increased refinery activity signals a potential supply build. Rising Gulf coast refinery activity was likely behind some of the drop in prices. Gulf coast refinery utilization last week rose to 91.4pc, the highest in 12 weeks and up by 0.9 percentage points from the prior week. US Gulf coast suppliers are also eyeing strong fuel oil price competition from eastern hemisphere ports such as Singapore and Zhoushan, China, importing cheap Russian residual fuel oil.

In general, LNG's substantial discount to VLSFO has kept interest in LNG for bunkering from ship owners with LNG-burning vessels high. The EIA discontinued publishing US bunker sales statistics with the last data available for 2020. But data from the Singapore Maritime & Port Authority, where the LNG–VLSFO discount widened to over $200/t VLSFOe in February, showed Singapore LNG for bunkering demand increase 11.4 times to 75,900t in the first quarter compared with 6,700t in the first quarter of 2023 and 110,900t for full year 2022.

By Stefka Wechsler

 

Photo credit and source: Argus Media
Published: 24 April 2024

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Interview

‘Big opportunity’ for bunker traders, suppliers on upcoming FuelEU regulation, forecasts OceanScore

‘Fossil Methanol is disastrous from a well-to-tank perspective due to its low energy efficiency but many biofuels present certain advantages,’ shares Albrecht Grell.

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‘Big opportunity’ for bunker traders, suppliers on upcoming FuelEU regulation, forecasts OceanScore

Bunker traders and suppliers could enjoy a huge market advantage if they start preparing for the upcoming FuelEU Maritime (FuelEU) regulation effective 2025, advises Hamburg-based technology platform OceanScore.

The firm, which provides solutions for the analysis, management, and compliance of maritime emissions, says FuelEU sets well-to-wake greenhouse gas (GHG) emission intensity requirements on energy used on board ships over 5,000 GT trading in the EU.

“FuelEU is a global regulation issued by Europe and all ships calling Europe are affected by it,” Albrecht Grell, Managing Director, of OceanScore told Manifold Times.

“The regulation aims to increase the share of renewable and low-carbon fuels in the fuel mix of international maritime transport in the EU.”

Grell explained EU has set a threshold for carbon dioxide (CO2) vessel emissions from marine fuels, and the “big opportunity” lies in having players in the bunker sector source for the right type of fuel to market before FuelEU takes effect from 2025.

‘Big opportunity’ for bunker traders, suppliers on upcoming FuelEU regulation, forecasts OceanScore

“Stakeholders will have a pay a penalty of EUR 2,400 per metric tonne (pmt) of VLSFO equivalent to the EU when they generate emissions above the EU Emissions target, from 2025 so it helps greatly when the supplier can source and provide the right bunker fuel for their clients,” he said.

“Shipowners can avoid a fine by using LNG or LPG due to both fuels likely generating compliance surpluses. Fossil Methanol is disastrous from a well-to-tank perspective due to its low energy efficiency but many biofuels present advantages.”

According to Grell, the EU only recognises certain biofuel blends as green. Biofuels made from palm oil are normally not acceptable and the “real trick” is to find waste cooking oil which is legal under FuelEU.

‘Big opportunity’ for bunker traders, suppliers on upcoming FuelEU regulation, forecasts OceanScore

“There will be great opportunity for bunker traders and suppliers to start venturing into biofuels especially the clean biofuels from newer feedstock to help shipowners avoid the EUR 2,400 penalties which will go up when the regulation gets stricter after 2030,” he said.

“Shipowners, in turn, could for example save one tank of accepted, low carbon biofuel and only use it for voyages within Europe, using other fuels on their voyage outside of or to Europe.”

Obligations related to FuelEU will start from 1 January 2025 onwards.

 

Photo credit: OceanScore
Published: 24 April 2024

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