TotalEnergies Marine Fuels forecasts expansion of LNG bunkering market to 10 MTPA within next four years
TotalEnergies Marine Fuels, the French major’s bunkering unit, has forecast that the liquefied natural gas market would expand over the next four years, reaching 10 million tonnes per annum of bunker volumes by 2025.
The TotalEnergies bunkering subsidiary came to the conclusion in a 40-page report on the maritime fuel market that offers shippping operators and owners advice on how to navigate the energy transition.
TotalEnergies Marine Fuels looks at the key drivers shaping the move to the decarbonization of shipping and timelines motivating the transition as well as required investments.
“Through our insights, knowledge and thinking, we hope to help develop a greater understanding of the key areas and considerations ship owners and operators will need to address, as they move towards tomorrow’s marine fuels landscape,” declared Jérôme Leprince-Ringuet, Vice-President Marine Fuels at TotalEnergies.
TotalEnergies also forecasts the LNG bunkering market would represent 10 percent of the entire bunkering market by 2030.
The Paris-based company noted that there were about 245 LNG-powered ships currently in operation and the market is expanding, given the number of newbuild orders for LNG-powered vessel.
Bunkering assets
The report added that there were now 26 LNG bunkering vessels in operation globally and the fleet would grow to 43 units offering an aggregated capacity of between 7 MTPA to 8 MTPA by early 2024 and up to 10 MTPA by 2025.
TotalEnergies deployed its first chartered LNG bunkering vessel in 2020. The “Gas Agility” has 18,600 cubic metres capacity and offers services around the Dutch port of Rotterdam.
The French company’s bunkering business partner is the Japanese shipping line, Mitsui OSK Lines.
The sister ship, the “Gas Vitality”, will be based at the Port of Marseille-Fos on the Mediterranean to serve the Marseille-based containerships operator CMA CGM and vessels from MSC Cruises calling at the French port.
The “Gas Vitality” was launched by the Chinese shipyard of Hudong-Zhonghua Shipbuilding at the end of April 2021.
TotalEnergies shares the use of a third bunker vessel in the Asian port of Singapore, where the company won a licence for LNG bunkering in February 2021.
The TotalEnergies bunkering licence from the Maritime and Port Authority of Singapore allows the supply of LNG in the Port from 2022.
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