Total and Pavilion Energy Ink MOU on LNG Bunker...
Total and Pavilion Energy Ink MOU on LNG Bunkering Cooperation
Total
Total Marine Fuels Global Solutions and Pavilion Gas signed a Memorandum of Understanding (MOU) on LNG bunkering cooperation in Singapore. Under the MOU, Pavilion Gas, a wholly-owned subsidiary of Pavilion Energy, will supply LNG as a bunker fuel to Total Marine Fuels Global Solutions, Total’s (Paris:FP) (LSE:TTA) (NYSE:TOT) affiliate in charge of worldwide bunkering activities, for LNG deliveries to its marine fuel customers in the port of Singapore. The parties may explore further cooperation in logistics for LNG bunkering activities.
The MOU was signed by Patrick Pouyanné, Chairman and CEO of Total, and Seah Moon Ming, CEO of Pavilion Energy and Pavilion Gas, on the sidelines of GASTECH 2017 in Tokyo, Japan. In 2016, Pavilion Gas was awarded an LNG bunker supplier licence by the Maritime Port Authority of Singapore (MPA). Pavilion Gas was also appointed by the Singapore Energy Market Authority (EMA) as an LNG importer for Singapore. Total is a global gas player, involved across the entire LNG chain, from extracting natural gas onshore and offshore to processing plants where it is liquefied, stored and shipped in a fleet of specially designed carriers to regasification terminals for delivery to business customers.
Patrick Pouyanné, Chairman and CEO of Total, said: “Our mission is to offer global and compliant solutions to our customers to meet the 2020 Global Cap requirements. Total has a long-established bunker activity and is also a strong worldwide LNG player, thus providing the required conditions to position the Group in the emerging LNG bunker market, where our ambition is to become a key player. In this context, developing a competitive worldwide LNG bunkering network will be key for the industry; securing access in the main hubs, such as Singapore, is part of our strategy. The MOU signed with Pavilion Gas is a real opportunity for Total to make further inroads in this promising new market.â€
“Pavilion Energy views LNG bunkering as a future driver for LNG demand growth and welcomes this MOU with Total. Our role as an LNG bunker supplier is reinforced by the appointment of Pavilion Gas as an LNG importer in Singapore. The supply of LNG by Pavilion Gas as a bunker fuel in the port of Singapore supports Singapore’s position as a leading bunkering port, and contributes towards establishing a global LNG bunkering ecosystem. Pavilion Energy is pleased to collaborate with industry partners to build a robust LNG bunkering hub in Singapore and the regionâ€, said Seah Moon Ming, CEO of Pavilion Energy and Pavilion Gas.
With the International Maritime Organisation’s (IMO) 0.5% global sulphur cap on marine fuels coming into force in 2020, LNG is set to play a significant role in the energy mix for the maritime sector. LNG as a marine fuel significantly reduces harmful emissions of sulphur oxides (SOx), nitrogen oxides (NOx) and CO2 and particulate matter compared to traditional bunker fuels.
About Total Marine Fuels Global Solutions
Total Marine Fuels Global Solutions is Total’s dedicated business unit in charge of worldwide bunkering activities. Total Marine Fuels Global Solutions is the single point of contact for a full spectrum of solutions with innovative and efficient bunkering services. Total Marine Fuels Global Solutions’ ambition in terms of LNG bunkering is to reach 1 million tonnes per year by 2025. For more information, visit www.marinefuels.total.com
About Total
Total is a global integrated energy producer and provider, a leading international oil and gas company, and a major player in solar energy with SunPower and Total Solar. Our 98,000Â employees are committed to better energy that is safer, cleaner, more efficient, more innovative and accessible to as many people as possible. As a responsible corporate citizen, we focus on ensuring that our operations in more than 130 countries worldwide consistently deliver economic, social and environmental benefits. For more information, visit www.total.com.
About Pavilion Energy
Pavilion Energy invests in key liquefied natural gas (LNG) businesses to support the growth of a sustainable future in the region. Pavilion Gas, a wholly-owned subsidiary of Pavilion Energy, is responsible for the marketing and distributing of natural gas in Singapore and the region, including small-scale LNG and LNG bunkering initiatives; and participates in LNG trading across the globe. In 2016, Pavilion Gas was appointed by the Singapore Energy Market Authority (EMA) as an LNG Importer for Singapore. For more information, visit www.pavilionenergy.com.sg
View source version on businesswire.com: http://www.businesswire.com/news/home/20170404005677/en/
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