Page 14 - GLNG Week 31 2021

GLNG NEWS IN BRIEF GLNG

that need and Commonwealth LNG looks
forward to partnering in these efforts.”
Commonwealth is implementing an
accelerated construction schedule that will
allow the project to be built in three years
using a predominantly modular approach
with major components being fabricated
offsite.
SUMMIT OIL AND SHIPPING CO. LTD, August
02, 2021
MOL to build series of 4
from its liquefaction facilities in Texas and LNG offtake for Bangladesh
Louisiana to support LNG fuelling operations. LNG-fuelled car carriers
LNG bunkering services are expected to be Summit Oil and Shipping Co. Ltd. (SOSCL),
available in 2021. the first and largest private sector importer – progressing towards
“Stabilis is proud to partner with the and supplier of fuel oil to Bangladesh,
Galveston Wharves on this LNG marine announced today that it has signed a “90 LNG-fuelled vessels by
bunkering opportunity,” said Jim Reddinger, memorandum of understanding (MoU)
President and CEO of Stabilis. “The use of with Commonwealth LNG to collaborate 2030”
LNG as a marine fuel is critical for marine in the supply of LNG to Asia, including
operators to reduce their emissions profile, Bangladesh. SOSCL is part of the Summit Mitsui OSK Lines (MOL; President and CEO:
and Stabilis is building a North American Group, Bangladesh’s largest infrastructure Takeshi Hashimoto) today announced that it
network of LNG bunkering locations to conglomerate. reached an agreement with Shin Kurushima
provide this critical service to our marine The scope of the MOU includes SOSCL Dockyard (President: Tetsushi Soga;
customers. The Port of Galveston is the potentially contracting for 1 million tons Headquarters: Imabari-shi, Ehime Prefecture)
second LNG marine fuelling location (along per year (mtpa) of LNG offtake, for a term and Nihon Shipyard (President: Yoshinori
with the Port of Corpus Christi) that Stabilis of up to 20 years, from Commonwealth’s 8.4 Maeta; Headquarters: Chiyoda-ku, Tokyo)
will operate on the Gulf Coast. As our marine mtpa facility currently under development in to build four 7,000-unit capacity car carriers
customers pursue their environmental, Cameron, Louisiana. using environment-friendly liquefied natural
commercial, and operational goals in the SOSCL’s associated companies within gas (LNG) as their main fuel. Compared to
energy transition, Stabilis will be there to Summit Group have approximately 3 GW conventional marine fuel oil, LNG is expected
support them.” of gas-to-power electricity in operation or to reduce emissions of carbon dioxide (CO2)
The number of LNG-powered vessels in development within the Indian subcontinent, which is a greenhouse gas (GHG), by about
the world fleet is growing rapidly as LNG and operate a 500 mmcf per day floating 25-30%, sulphur oxide (SOx) by 100%, and
fuel benefits marine customers in both storage and regasification unit (FSRU) and nitrogen oxide (NOx) by about 85%. The
efficiency and emissions reductions compared LNG terminal under Summit LNG Terminal vessels are slated for delivery in succession
to conventional marine fuels. According to (SLNG) in Moheshkhali, Cox’s Bazar, starting in 2024.
DNV, demand for LNG as a marine fuel is Bangladesh. In June 2021, MOL established the “MOL
projected to grow from approximately 1.0mn “We’re proud of what this step means Group Environmental Vision 2.1” as a guide
tons per annum (mtpa) in 2020 to nearly 4.0 towards securing this major source of to achieving net zero GHG emissions by 2050.
mtpa by 2024, a compound annual growth clean energy for the growing economy of It plans to launch about 90 LNG-fuelled
rate of over 30%. With this partnership Bangladesh,” said Farid Khan, vice chairman vessels by 2030, under its strategy calling
providing LNG fuel and services, Stabilis of Summit Group. “We look forward to for “Adoption of Clean Alternative Fuels” to
and the Galveston Wharves hope to attract having Commonwealth LNG as a partner achieve that target.
more LNG-fuelled vessels and to encourage that can deliver US-sourced LNG, providing In addition to the LNG-fuelled vessel
additional conversions to LNG fuel. Stabilis diversification of supply for Bangladesh and projects (Note 1) that the MOL Group has
and the Galveston Wharves have committed the pricing stability associated with Henry been working on, we will promote the use of
to providing extensive education and technical Hub.” LNG fuel for car carriers, starting with this
support to potential customers. From Commonwealth LNG’s perspective, decision.
GALVESTON WHARVES AT THE PORT OF President and CEO Paul Varello said the MOL is accelerating its preparations for the
GALVESTON AND STABILIS SOLUTIONS, August MOU is evidence of just how aligned launch of environment-friendly vessels using
03, 2021 the parties are in achieving their shared not only LNG fuel but also biofuels, which are
objectives. reaching the practical application stage, while
“Commonwealth’s focus on producing the continuing to research the use of ammonia
ASIA lowest-cost liquefaction in the U.S. remains and other next-generation fuels.
important in a highly competitive global It will make further efforts with the aim of
Summit and Commonwealth market,” said Varello. “This becomes even becoming the company of choice for various
stakeholders, by delivering a new value – zero-
more critical for a rapidly emerging economy
LNG Sign MoU for 1 mtpa of such as Bangladesh where the need for emission transport of cars.
additional energy is critical for sustaining its
MITSUI OSK LINES, August 03, 2021
economic growth. Summit has recognised

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