Xavier Pfeuty, LNG Bunkering General Manager, Total Marine Fuels Global Solutions (TMFGS), on Friday (7 February) published a blog entry stating the company’s position on the acceleration of liquefied natural gas (LNG) as a marine fuel.
Pfeuty said Total Marine Fuels Global Solutions is investing heavily in LNG as a marine fuel to better support its customers and the global shipping supply chain.
“We see huge potential in the way LNG can be applied and used within the industry,” he commented During his keynote speech at the recent Global LNG Bunkering Summit in Amsterdam.
In his keynote speech, he highlighted key insights for the year ahead:
Total insight #1: We are entering a multifuel era as LNG bunkering demand is set to reach in the near term (in 2025) 10 Mt
Total insight #2: An uptick in LNG investments is being experienced with LNG bunker vessels predicted to triple in the next 2 years reaching more than 30 units
Total insight #3: Unlocking LNG potential is set to become easier with logistical and technical improvements elevating bunkering development
Total insight #4: Developing mind-sets for the future, Total Marine Fuels Global Solutions invest more in LNG bunker vessels to begin to cover the main maritime hubs with breakthrough contracts including an 18,600 m3 LNG bunker vessel (LNGBV) for delivery in Rotterdam, a partnership with Pavilion in Singapore for a 12,000 m3 LNGBV charter, and a 18,600 m3 LNG bunker vessel to be positioned in Marseille.
Total insight #5: Project to develop LNG bunkering activities for Middle East clients with the construction and operation of a 1 Mtpa liquefaction plant in Sohar Port.
He commented 90% of global trade is carried out by seas, therefore the type and choice of fuel to power this trade is critical.
“But improving clean fuel supply sustainability is only one half of the equation; the other half is balancing demand-based behaviour,” he added.
“We presented our insight for the next five years, and deep-dive into the trends that are shaping the future of energy production and delivery across the world, alongside other leading experts, innovators and government figures associated with the shipping industry.
“We look forward to continuing this level of discussion throughout the year and contributing in to the debate with other experts across industry to explore the challenges faced by industry and governments alike, as well as the critical solutions to address them.”
Related: Total Marine Fuels Global Solutions reiterates commitment to Singapore bunker market
Related: Exclusive: Singapore top bunker suppliers reveal estimated sales volume for 2019
Related: Pavilion Energy and TMFGS enter 10-year LNG bunkering agreement
Photo credit: Total Marine Fuels Global Solutions
Published: 10 February, 2020
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