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            december 17, 2017

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Indiaexportnews.com

French shipping, fuel giants tie up in enormous 10-year supply LNG deal

  06.12.2017    

French energy giant Total and French shipping giant CMA CGM have signed an agreement covering the supply of 300,000 tons of liquefied natural gas (LNG) a year for 10 years starting in 2020.
This unprecedented volume in the history of LNG bunker will fuel CMA CGM's nine newbuild containerships, scheduled for delivery beginning 2020 onwards, reported the American Journal of Transportation.
CMA CGM, the first shipping company in the world to equip its 22,000-TEU ships with LNG propulsion, has selected Total Marine Fuels Global Solutions.
In February 2017, CMA CGM and Total signed a cooperation agreement to examine the most environmentally responsible propulsion solutions to meet the International Maritime Organization's (IMO) 2020 implementation date for new sulphur regulations.
By selecting LNG as a fuel today, CMA CGM said is opting for a solution that will outperform the sulphur cap of 0.5 per cent required in 2020.
"LNG is the fuel of the future for shipping," said CMA CGM chairman and CEO Rodolphe Saade.
"With this groundbreaking decision by the CMA CGM Group, the entire maritime industry will benefit from the new supply chains that will be created.
Under the deal, Total will provide LNG supply. Total is considering chartering on long-term basis a LNG bunkering vessel that would deliver fuel to CMA CGM in Europe and other customers in the same region.
Said Total chairman and CEO Patrick Pouyanne: "CMA CGM's decision to adopt LNG propulsion for its newbuild container ships sends a strong signal to the maritime world.
"The wider use of LNG as a fuel is an important component of Total's LNG strategy, and we are delighted to support CMA CGM as it implements this ambitious project. This agreement highlights our involvement in developing dedicated supply chains for this new fuel. We are once again demonstrating our ability to provide customised energy solutions to our customers," he said.
Total also disclosed that it is considering chartering an LNG bunkering vessel that would not only deliver fuel to CMA CGM in Europe, but also to other customers in the same region.
In addition to the new LNG supply agreement, both companies have also reached an agreement in principle on the potential supply of lubricants for the nine newbuilds.
"The new supply chains created would lead to a wider use of LNG, especially in the shipping sectors, to achieve even greater and ambitious environmental responsibility," said the Total statement.



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