Rostock LNG GmbH, a joint venture between independent natural gas producer Novatek (49%) and gas infrastructure firm Fluxys (51%) is planning to introduce liquefied natural gas (LNG) as a marine fuel at the Port of Rostock in Germany.
It has signed a land lease agreement with Rostock port to design, construct, finance, own and operate a mid-scale LNG storage terminal in the location.
The envisaged facility is to unlock LNG as a low emission alternative for heavy fuel oil, diesel and LPG in North and Central Europe and the Baltic Sea area.
The LNG Terminal will have a capacity of approximately 300 thousand tons per annum, and will receive LNG carriers from the Cryogas-Vysotsk liquefaction facility that Novatek is currently constructing in the port of Vysotsk located near the Saint-Petersburg area.
It will also be able to supply LNG amongst other as bunker fuel for ships operating in the Baltic Sea.
“One of our LNG strategic initiatives is to develop small- to medium-tonnage projects to target niche markets and customer segments.” noted Leonid Mikhelson, Chairman of the management board at Novatek.
“This approach allows us to build effective marketing channels on different markets. Moreover, the LNG Terminal at Rostock allows us to market LNG as a marine fuel and motor fuel instead of diesel and fuel oil that will contribute to decreasing emissions and improving the environment.”
Following the signature of the Land Lease agreement, Rostock LNG GmbH is to proceed with the engineering and permitting processes.
“Fluxys as gas infrastructure partner is pleased to team up with Novatek in this venture to facilitate the market for liquefied natural gas as low emission fuel in North and Central Europe and in the Baltic Sea area,” stated Pascal De Buck, Managing Director of Fluxys.
“Gas and gas infrastructure are key to develop a sustainable, reliable and affordable energy system and the Rostock project will allow industry, ship owners and haulage companies to significantly cut emissions impacting health and air quality as well as reducing their carbon footprint.”
Published: 18 October, 2018
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