Gasum expands gas delivery in Sweden
Finnish fuelling specialist Gasum has expanded its presence in the Nordic region, signing a contract with Swedish oil and bitumen company Nynas. Gasum will delivering natural gas to Nynas’ refinery in Gothenburg on the west coast of Sweden. “We are extremely pleased with this contract. Nynas is our first industry customer in the Swedish gas grid, so this is a significant milestone for Gasum. This really emphasizes our role as a gas market operator serving the whole Nordic region. As a truly Nordic energy company, we hope to provide our industry customers with a unique and competitive offering, which will help them in transitioning towards more sustainable sources of energy,” Tommy Mattila, Vice President at Gasum, said.
Gazprom Neft to ramp up LNG bunkering
Russian gas giant Gazprom Neft has announced its intention to step up its LNG bunkering activities as it looks for new opportunities to add value. “Our next step in bunkering is going to be moving into the LNG bunkering sector. Gazprom Neft was the first company in Russia to start building its own LNG bunkering vessel — which has already been successfully put to sea, for commissioning, we expect, later this year,” Alexander Dyukov, CEO and Chairman of the Management Board at Gazprom Neft, said. The company aims to take a product-based approach to development of the LNG bunkering business as it seeks to develop and implement new technologies.
LNG bunkering market to hit U$5.14 Billion by 2027
The LNG Bunkering Market is forecast to reach U$5.14 Billion by 2027 at a CAGR 45.2%, according to the latest research by analyst Valuates. The firm predicts that the global LNG bunkering market was worth just U$0.38 Billion in 2019 but will grow at a compound annual rate (CAGR) of 45.2% to 2027. “The ship-to-ship segment had the highest market share of about 60.5 percent in 2019 and is expected to hold this position during the forecast period. This is due to an increase in the number of ships using LNG as a cleaner fuel to comply with strict government regulations,” a spokesperson for Valuates Reports said. Growth in the cargo fleet segment is expected to be fuelled by an increase in the number of manufacturing units and factories in regions such as Asia-Pacific and LAMEA.
Stabilis posts record LNG deliveries
Fuel supplier Stabilis Solutions has announced record first quarter results on the back of soaring demand for LNG and hydrogen. The firm posted Q1 revenues in the range of US$17.5 million to US$17.8 million and reported deliveries of 13.4 million gallons of LNG during the quarter. This represents at least a 29% increase compared to the fourth quarter of 2020. “Stabilis is proud to report record revenues for the quarter, beating our prior record quarter, the first quarter of 2020, by well over 25%... The energy transition is underway and Stabilis’ position as a premier supplier of clean LNG and hydrogen fuelling solutions is driving significant growth. We believe that this trend will continue into the remainder of 2021 and beyond,” Jim Reddinger, CEO of Stabilis Solutions, said.
Fortistar creates renewable gas firm Opal Fuels
Investment company Fortistar has announced the merger of portfolio companies, Fortistar Methane Group (FMG) and TruStar Energy to create a new renewable gas entity, Opal Fuels. The new firm will combine FMG’s landfill gas-to-energy business in the US with TruStar Energy’s transportation fuel business. The company will handle ‘every step’ from project development and construction to producing, marketing, and dispensing renewable fuel. “In the nearly 30 years since founding Fortistar, I have never been more excited about the opportunities ahead. Amid wildfires, heat waves, hurricanes, and other extreme weather that punctuated a tumultuous 2020, the world is now more determined than ever to address climate change. Opal will lead the effort to decarbonise the US’s transportation industry, which generates the largest share of annual greenhouse gas emissions, by supplying clean, sustainable energy,” Mark Comora, president of Fortistar, said.
CNOOC, CSSC partner to develop LNG river fleet
State-owned firm China National Offshore Oil Corporation (CNOOC) is to provide China State Shipbuilding (CSSC) with LNG bunker fuel for up to 50 bulk carriers operating in China. The agreement is reported to cover fuelling for vessels in the Pearl river delta area and follows a framework agreement signed by the two parties last year for the conversion of inland river vessels in Guangdong. The new fleet will include 25 vessels of 2,000 deadweight-tonne (dwt) capacity and a further 25 vessels with 3000dwt capacity. The Pearl river delta area includes the Yangtze river delta and the Bohai bay region and is one of the few emissions control zones in the country.