Currently, Singapore has approximately 20 percent market share in the conventional bunkering business while it looks to expand its supply of alternative fuels to meet the future needs of the industry.
The Maritime and Port Authority of Singapore (MPA) recently awarded a new LNG bunker supplier license to Total’s subsidiary in charge of worldwide bunkering activities, Total Marine Fuels Private Limited. The third LNG license for the port, the agreement with Total starts on January 1, 2022, and runs for five years.
“Asia’s demand for LNG bunkering is growing and the contribution of Singapore is of essence for the development of a global LNG bunkering market,” says Alexis Vovk, President, Marketing & Services at Total. “Moving forward, Total will continue to step up investments to bring greater value of our integrated natural gas supply chain to customers serving this important region, ultimately contributing to our target of serving more than 10 percent of the global LNG bunker market.”
In 2019, Total had entered into a 10-year agreement to develop an LNG bunker supply chain in the port of Singapore. The new agreement will be part of the company’s ongoing efforts to contribute to Singapore’s goal of becoming a key LNG bunkering hub for Asia. It also underscores Total’s confidence in the role of natural gas for the global maritime industry’s energy transition and its potential to further reduce carbon emissions from ships, through the development and future introduction of carbon-neutral bioLNG.
Total has actively invested in LNG infrastructure, critical to support its shipping customers’ uptake of LNG as a marine fuel. Since November 2020, Total has been operating one of the largest LNG bunker vessels, the Gas Agility, at the Port of Rotterdam.
Source: Maritime Executive (Click for further of the article)