Page 13 - GLNG Week 08 2021

GLNG NEWS IN BRIEF GLNG

cargo capacity, flexibility and fuel economy, Arctic LNG 2 project. Ratio (AER) curve used to secure preferable
as well as the proven performance of the The SPA stipulates the cumulative supply funding under the Poseidon Principles. This
built Polar Code C.Delta2150 design. It of more than 3mn tonnes of LNG for a term extends the average seven-year additional
provides a flexible platform for a whole series of 15 years and will be delivered to LNG competitive advantage for Poseidon Principle
of designs, which can be adapted to various terminals in China on DES basis. loans achieved with LNG alone.
customers’ requirements as a result of several “Our LNG commercial strategy is to The analysis compares LNG plus bio-LNG
optional feature studies. The platform design diversify our client base and target end from a zero-carbon, sustainable source with
is “future-proof”, taking into consideration consumers in the fast-growing Asian Pacific conventional vessel fuels such as HFO, VLSFO
possibilities to use alternative fuels to reduce region, and the LNG volumes produced from and MGO. Bio-LNG is fully compatible with
carbon footprint or even zero-emission power our Arctic LNG 2 project is core to our long- existing LNG infrastructure and technologies
production. term objective of delivering affordable, secure and increasingly recognised as a sustainable
The choice of the main dimensions (length, and sustainable natural gas for many decades,” fuel that can be ‘dropped in’ and blended with
breadth, block coefficient in combination with noted Leonid Mikhelson, Novatek’s Chairman LNG. Therefore, it represents one of the most
a larger propeller) in total results in a higher of the Management Board. “The Chinese viable pathways to decarbonisation currently
speed respective in less power demand at the market is one of the key regions in our LNG available to owners.
design speed/contract point compared with marketing strategy, and we plan to further LNG fuel delivers greenhouse gas (GHG)
reference designs. increase our supplies of liquefied natural gas reductions of up to 21% Well-to-Wake and up
The platform design includes ice class 1A to this country.” to 28% Tank-to-Wake. This means that LNG
for unlimited Baltic Sea operation. The vessel NOVATEK, February 25, 2021 vessels perform well according to Poseidon
is equipped with lashing bridges to access Principles’ funding criteria, which were
reefer containers. Every 10% of bio-LNG drop- instigated by financial institutions to improve
DELTAMARIN, February 25, 2021 strategic decision-making and shape a better
future for the shipping industry and society.
Novatek and Shenergy in gives another two years towards these objectives using an AER
The Poseidon Principles measure progress
‘runway extension’ for GHG
Group Sign SPA for LNG from reduction compliance scoring. This follows an ever-tightening
decarbonisation trajectory index to 2050,
Arctic LNG 2 New analysis from SEA-LNG, the coalition requiring a vessel’s aggregate carbon emissions
intensity to improve. This measure is intended
Novatek announced today that its wholly for accelerating LNG as a marine fuel, has to align with and incentivise the IMO’s goals
owned subsidiary, Novatek Gas & Power determined that for every 10% of bio-LNG of reducing the total annual GHG emissions
Asia, and Shenergy Group signed a long- dropped in and blended with LNG as a by at least 50% by 2050.
term LNG Sales and Purchase Agreement marine fuel, a vessel can achieve two extra SEA-LNG, February 25, 2021
(SPA) for the LNG produced from the years’ compliance with the Annual Efficiency

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