Fuel specialists Peninsula Petroleum and Scale Gas are to launch a new LNG bunkering vessel for operation in the Strait of Gibraltar.
The partners signed an agreement covering construction, joint ownership and charter for the vessel, which will be based in Algeciras Port.
“This project is one of many initiatives around Peninsula’s strategic pillars: customer centricity, sustainability and technology,” John A. Bassadone, CEO of Peninsula said, adding that “this vessel will hopefully be the first of many that will offer flexibility and solutions across our global network to our customers.”
The new vessel will have capacity of 12,500 cubic metres and will be chartered exclusively by Peninsula through an initial seven-year contract. It will refuel via Enagás’ regasification plants, mainly Huelva in Andalusia.
“This agreement is the culmination of a three-year project that consolidates Scale Gas as a relevant player in investment in LNG bunkering infrastructures, one of its major strategic lines,” Oscar Maciñeiras, CEO of Scale Gas said.
Scale Gas is a subsidiary of Spanish energy company and transmission system operator Enagás and is a key division in the group’s vision to develop the use of LNG as a maritime transitional fuel.
“Having the support of a company like Enagás is an incredibly positive and exciting development. As one of the largest physical suppliers of marine fuels globally, this is the first step of our transition to a more sustainable future,” Bassadone commented.
The vessel will be built by South Korean shipyard Hyundai Mipo and is scheduled for delivery in June 2023.
Funding for the project was partly supplied by the EU’s Connecting Europe Facility, which contributed €11 million via a consortium of Enagás, Scale Gas and the Algeciras Port Authority. The agreement between Peninsula and Scale Gas was further supported by the LNGhive 2 strategy, driven by state-owned ports management Puertos del Estado.
Record bunker of HL Green
Headquartered in Gibraltar, Peninsula operates a global bunker fuel supply chain and provides a variety of services in marine energy storage, supply and solutions. In February the firm completed a world first in Malaysian waters, bunkering the HL Green, the world’s largest LNG-powered bulk carrier.
A total of 2,760 cubic metres of LNG was transferred to the vessel, with bunkering operations complete in partnership with Petronas Marine, H-Line, and charterer POSCO.
“Delivery took place safely and was completed within 20 hours, a record time for the quantity supplied, including the cooling down of an LNG tank,” Nacho De Miguel, lead for Peninsula’s LNG business, said.