Page 14 - DMEA Week 46 2021

DMEA NEWS IN BRIEF DMEA

COMPANIES would basically benefit both countries. The and India.
negotiations about it will continue.” To make this green fuel available, GAC
Petromaint wins AMOC shortage of gas in the wintertime, Owji said Bunker Fuels is partnering with Dubai-based
Asked about plans to deal with a
Neutral Fuels, an established producer of
maintenance contract arrangements have been made at the pipelines biodiesel derived from waste cooking oil.
and compressor stations, noting that liquid
“Deploying our Net Zero biofuel in
Alexandria Petroleum Maintenance fuel has also been stored for industries and the maritime sector will play a key role in
Company (Petromaint) has signed a five- power plants. helping to achieve the new carbon emission
year maintenance contract with Alexandria “We are trying (to make sure) that people reduction targets set by the International
Mineral Oils Company (AMOC) for units in the household sector would not face any Maritime Organisation,” said Gary Hubbard,
worth EGP15mn ($950,000mn) annually, problem in the winter as much as possible,” the chief commercial officer of Neutral Fuels.
Petromaint said in a press release. the minister said. “Adoption of cleaner biofuels is much quicker
The contract was effective as of November In comments on October 26, Owji said an when we work in close collaboration with
1. It provides comprehensive mechanical, overdue debt to Turkmenistan for imports of leading companies such as the GAC Group. It
electrical and automatic control maintenance natural gas in the past will be settled for good. means that the whole sector can become part
services. “Luckily we had good talks for settling the of the solution to climate change, rather than
The joint co-operation between the debt to Turkmenistan based on preparations remaining part of the problem.”
majority state-owned companies is in line we had carried out,” Owji said after meeting The fuel will be available to vessel operators
with directives of Petroleum Minister Tarek a senior delegation from Turkmenistan led as a blend with petroleum-based bunker fuel,
El Molla on the need to achieve integration by the country’s foreign minister Rashid mixed at varying percentages.
and enhance co-operation between companies Moradov. The service makes good on GAC’s recent
affiliated within the petroleum sector in In a ruling issued last year, the decarbonization pledges. GAC recently joined
various fields. International Court of Arbitration (ICC) the Getting to Zero Coalition, pledging to
BNE endorsed claims by Turkmenistan’s state-run achieve net-zero operations, and it has signed
gas company Turkmengaz that it is owed on to the group’s call to decarbonize the
around $1.5 billion by the National Iranian shipping industry by 2050. The ships’ agency
POLICY Gas Company (NIGC) in arrears related to the views biofuel as a potential solution, providing
supply of gas to Iran over 10 years to 2017. its customers with a near-term option to
Iran makes new proposal details of the ICC ruling confidential while reduce their carbon footprint.
The two companies have agreed to keep
“As a leader in our industry, we have a
for import of Turkmen gas the Iranian Oil Ministry has dismissed responsibility to do the right thing,” said
Martyn McMahon, GAC Bunker Fuels’ Global
reports that the ICC has ordered Iran to pay
Iran has offered Turkmenistan a new proposal $500 million in interest and fines on delayed Commercial Manager. “The quicker we
to pay off its gas debts and revive a contract payments related to the gas deal. adapt our thinking and behaviour to reduce
on the import of gas from the Central Asian TASNIM carbon emissions, the better for everyone. We
country, Iranian Oil Minister Javad Owji said. want to work with like-minded partners and
In an interview with Tasnim, Owji said customers who share the same sustainability
Iran has put forward its proposal for the FUELS goals and passions as us.
settlement of gas debts to Turkmenistan and MARITIME EXEC
revival of a contract to import gas from the GAC to sell bunker biodiesel
neighboring country. Ardova now Nigeria’s
The Turkmens are currently considering in Middle East
Iran’s suggestions, the minister added. largest downstream firm
He also raised the possibility of resumption GAC’s marine fuel arm has announced a new
of gas trade between the two neighbors partnership to supply a biodiesel fuel blend for Nigerian energy firm and petroleum
with the revival of the contract. “This shipping in the UAE, Bahrain, Oman, Qatar distributer Ardova has completed the

P14 www. NEWSBASE .com Week 46 18•November•2021