Fluxys buys 25% stake in bunkering vessel

October 26, 2015

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Fluxys signed an agreement with ENGIE, Mitsubishi and NYK Line to acquire 25% in the vessel that will be offering LNG bunkering services from its home port of Zeebrugge, Belgium. The liquefied natural gas bunkering vessel, with a capacity of 5,100 cubic metres LNG, is currently under construction in South Korea and delivery is planned for the second half of 2016.
LNG has a far better emission profile than traditional petroleum based sources and especially since sulphur emission regulations applicable in the North Sea Channel, North Sea and Baltic Sea have become more stringent since 1st January 2015, LNG as an alternative fuel for ships has been gaining in importance. According to a recent DNV-GL study the number of non-LNG carrier vessels running on LNG will reach 1,000 in 2020 or shortly thereafter.
The LNG bunkering vessel under construction will be chartered by the joint venture LNG bunkering company created by ENGIE, Mitsubishi and NYK Line for commercial operations. First bunkering contracts have already been agreed upon. Within the framework of the long term access rights ENGIE has at the Fluxys LNG terminal in Zeebrugge, the LNG bunkering vessel will load LNG at the terminal. The vessel will then deliver the LNG by means of ship-to-ship transfer to newly ordered ships by UECC (United European Car Carriers), a Norwegian automobile carrier, which is located in the inner harbour of Zeebrugge.