Global integrated marine fuel supplier Peninsula Petroleum Group (PPG) on Thursday (4 February) said it will be building a liquified natural gas (LNG) bunkering business as part of its Global Sustainability Initiative to transition towards renewable marine energy.
“IMO2020 was a complex strategic planning process and we delivered the transition extremely effectively,” said Peninsula’s CEO, John A. Bassadone.
“Our foresight and professionalism throughout that period led to Peninsula deepening relationships with clients and stakeholders; cementing our position as the benchmark for quality within the industry. Being able to adapt and evolve to the changing market is a core value of the company.”
Building the LNG bunkering business is part of the initial phase in its Global Sustainability Initiative to positively shape the ever-changing ‘green energy’ landscape.
Peninsula noted energy transition strategy is the culmination of a wide-ranging consultation process spanning over 18 months. With an integrated supply network already spanning the globe, the group’s strategy was to add LNG bunkering as an additional service.
Peninsula feels its existing worldwide relationships have proved vital in securing important knowledge and a clear picture of current and future demand.
“We are already in dialogue with multiple customers regarding their LNG strategies” said Victor Morales, Peninsula’s Global Head of Sales & Marketing.
“We are fortunate to have deep relationships with many customers, either already operating LNG-powered vessels, or in the final stages of delivering new ships for service.
“Building our LNG proposition around customer needs is a natural progression for us as it is a methodology we have followed in conventional bunkering for 25 years. In many cases, customers are opting for dual-fuelled ships and we will be uniquely placed to assist them with all their bunkering needs”
“We are already in advanced discussions with shipyards, governments, maritime authorities, suppliers and customers, to name but a few, and the response so far has been extremely positive given Peninsula’s excellent reputation in conventional bunkering,” added Bassedone.
“As technology continues to improve we will invest in further viable green energy solutions. Ultimately we are committed to a zero carbon future and I strongly believe that Peninsula will play a key role in marine energy reaching this destination.
Photo credit: Peninsula Petroleum
Published: 5 February, 2021
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