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The Maritime Port Authority of Singapore has awarded Total with a liquified natural gas bunkering license as the world’s largest bunkering hub seeks to become a key LNG bunkering destination for Asia.
The bunker supplier license, Singapore’s third such license, was awarded to Total Marine Fuels Private Limited and covers a five-year term starting January 1, 2022.
The award follows a 10-year agreement signed by Total in 2019 to develop an LNG bunker supply chain in the port of Singapore.
“We are proud to be awarded by the Maritime and Port Authority of Singapore the licence to supply LNG. Singapore, as the world’s largest conventional bunkering hub with a market share of 20 percent, is well positioned to become a major hub for LNG as a marine fuel,” commented Alexis Vovk, President, Marketing & Services at Total. “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. 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% of the global LNG bunker market.”
Total sees adding LNG infrastructure as critical to support its shipping customers’ uptake of LNG as a marine fuel. Since November, Total has been operating the world’s largest LNG bunker vessel, the “Gas Agility”, at the Port of Rotterdam. By 2022, the company will launch another newly built LNG bunker vessel in Marseille, France, and plans are for a third vessel to serve the port of Singapore.
In addition to LNG bunkering, Total has also chartered two VLCCs (Very Large Crude Carriers) and four Aframax-type vessels, all equipped with LNG propulsion, which will be delivered in 2022 and 2023 respectively.
“Total’s active efforts to develop LNG bunkering for maritime transport are in line with the Company’s climate ambition to get to net-zero emissions by 2050, together with society. Furthermore, it embodies Total’s broader marketing strategy towards the industries it serves, focusing on solutions to reduce the carbon intensity of the energy products used by its customers worldwide,” the company said in a statement.
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